A parcel of land purchased by Clean Energy, Inc is estimated to contain 15.25 million tons of anthracite coal. The purchase price was 10,850,000, startup costs were 3,411,000, and the residual value is 1,464,000. If 2,325,000 tons were produced during the year, find the annual depletion cost. (Round depletion cost per unit to the nearest cent)
A) 1,437,850
B) 2,476,143
C) 2,318,644
D) 1,953,000
Question 2
What was the trade discount rate if merchandise with a list price of 14,200 was sold at a net price of 9,940?
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