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The ABC copper company recently bought an ore-bearing parcel of land for Rs. 2,000,000. The recoverable reserves in the mine were estimated to be 5,00,000 tons. If 75,000 tons of ore were mined during the first year and 50,000 tons sold, what was the depletion allowance for one year?

The ABC copper company recently bought an ore-bearing parcel of land for Rs. 2,000,000. The recoverable reserves in the mine were estimated to be 5,00,000 tons. If 75,000 tons of ore were mined during the first year and 50,000 tons sold, what was the depletion allowance for one year? Correct Answer Rs. 3,00,000

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