Graham Oil Corporation, an integrated producer, incurs IDC costs in the following years as indicated. The IDC
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Graham Oil Corporation, an integrated producer, incurs IDC costs in the following years as indicated. The IDC amounts marked with an asterisk (*) relate to dry-hole IDC.
REQUIRED: Compute the amount that may be deducted for IDC in the years 20XA, 20XB, 20XC, and 20XD.
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