Question: i want answer in 30 mins and correct answer thanks for your help South African Gold Mines, Inc. is writing off its $210 million investment

i want answer in 30 mins and correct answer thanks for your help

i want answer in 30 mins and correct answer

South African Gold Mines, Inc. is writing off its $210 million investment using the cost depletion method. An estimated 700,000 ounces of gold are available in its developed mines. This year 35,000 ounces were produced and sold at an average price of $1400 per ounce. Taxable income for the year is estimated at $4.8 million. The cost depletion for the year is closest to: a. $7.35 million, which is 15% of the gross income of $49.0 million. b. $2.4 million, which is 50% of estimated taxable income. C. $10.5 million. d. $42 million

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