Belmont Oil Company, a full cost company, incurred intangible costs during 20XA related to the following: REQUIRED:

Question:

Belmont Oil Company, a full cost company, incurred intangible costs during 20XA related to the following:

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REQUIRED:

a. Assuming Belmont is an independent producer, how much IDC can it deduct for 20XA?

b. How much IDC could Belmont deduct as an integrated producer?

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