Alberta-based ACME used a depletion factor of $ 2,500 per 100 tonnes to fully recoup the $ 35 million investment it made in its coal mine that produces premium sodded lean metallurgical coal. For the steel sector, Depletion depreciation deduction has so far totaled 24.8 million. A new study to assess mining reserves indicates that only 800,000 tonnes of salable coal remain. What is the new exhaustion factor that applies following this new study? A- Less than $ 1000 per 100 tons. B- Between $ 1,000 per 100 tonnes and $ 1,100 per 100 tonnes. C- Between $ 1,100 per 100 tonnes and $ 1,200 per 100 tonnes. D- Between $ 1,200 per 100 tonnes and $ 1,300 per 100 tonnes. E- More than $ 1300 per 100 tons

Alberta-based ACME used a depletion factor of $ 2,500 per 100 tonnes to fully recoup the $ 35 million investment it made in its coal mine that produces premium sodded lean metallurgical coal. For the steel sector, Depletion depreciation deduction has so far totaled 24.8 million. A new study to assess mining reserves indicates that only 800,000 tonnes of salable coal remain. What is the new exhaustion factor that applies following this new study? A- Less than $ 1000 per 100 tons. B- Between $ 1,000 per 100 tonnes and $ 1,100 per 100 tonnes. C- Between $ 1,100 per 100 tonnes and $ 1,200 per 100 tonnes. D- Between $ 1,200 per 100 tonnes and $ 1,300 per 100 tonnes. E- More than $ 1300 per 100 tons

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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