Driller Incorporated has $$498,200$ of unrecovered capitalized costs in Well #$83.$ This year, cost depletion on the well is $$356,000.$ Which of the following

statements is true?

Multiple Choice

If Driller's allowable percentage depletion is $$313,000,$ Driller will deduct cost depletion.

If Driller's allowable percentage depletion is $$515,000,$ Driller will deduct percentage depletion.

If Driller's allowable percentage depletion is $$515,000,$ Driller's depletion deduction is limited to $$498,200.$

Both if Driller's allowable percentage depletion is $$313,000,$ Driller will deduct cost depletion and if Driller's allowable percentage depletion is

$$515,000,$ Driller will deduct percentage depletion are both true statements.