For $ 10,000,000, a major energy company has purchased oil extraction rights in a certain land tract. Originally, an estimate of 1,000,000 barrels total production was made, but in September 2002, this was raised by 200,000 barrels. By the beginning, of 2002. 400,000 barrels had been extracted and $3,500,000.cost depletion had been taken. In 2002 an additional 100,000 barrels were removed. What is the allowable cost depletion for 2002?
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