Question: No excel and please write clearly. Thank you. 13. Determine the depletion charges using the percentage depletion method for the first year only for a

No excel and please write clearly. Thank you. 13. Determine the

No excel and please write clearly. Thank you.

13. Determine the depletion charges using the percentage depletion method for the first year only for a coal mine. The applicable rate for the percentage depletion method is 12%. Cost to acquire mine rights = $50,000 Estimated mine size = 10,000 Tons Selling price = $80 per Ton Amount sold in year 1 = 2,000 Tons Operating cost in year 1 = $100,000 13. Determine the depletion charges using the percentage depletion method for the first year only for a coal mine. The applicable rate for the percentage depletion method is 12%. Cost to acquire mine rights = $50,000 Estimated mine size = 10,000 Tons Selling price = $80 per Ton Amount sold in year 1 = 2,000 Tons Operating cost in year 1 = $100,000

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