Question: For a given year, a coal mine has reported a cost depletion of $919,415, a net sales revenue of $50,100,892, and a total taxable income
For a given year, a coal mine has reported a cost depletion of $919,415, a net sales revenue of $50,100,892, and a total taxable income (before depletion) of $43,579,097. Recall that coal mines have a depletion rate of 10%. Determine the cost depletion, percent depletion, and limit depletion. Enter the value of the appropriate depletion deduction given the selection structure. Enter your value as a positive number
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