In 2017, Bodino Company paid P 4,000,000 to purchase land containing a total estimated 160,000 of extractable mineral deposits. The estimated value of the property after the mineral has been removed is P 800,000. Extraction activities began in 2018 and by the end of the year, 20,000 tons had been recovered and sold. In 2014, geological studies indicated that the total amount of mineral deposits had been underestimated by 60,000 tons. During 2019, 30,000tons were extracted, and 28,000 tons were sold. What is the depletion rate per ton in 2019? a. 12.73 c. 15.56 b. 14.00 d. 20.00

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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In 2017, Bodino Company paid P 4,000,000 to purchase land containing a total estimated 160,000 of extractable mineral deposits. The estimated value of the property after the mineral has been removed is P 800,000. Extraction activities began in 2018 and by the end of the year, 20,000 tons had been recovered and sold. In 2014, geological studies indicated that the total amount of mineral deposits had been underestimated by 60,000 tons. During 2019, 30,000tons were extracted, and 28,000 tons were sold. What is the depletion rate per ton in 2019? a. 12.73 c. 15.56 b. 14.00 d. 20.00
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