The country of Namibia imposes an 38% allowance for extraction of uranium. B3Gold Namibia company who extract soil with uranium deposits has a gross income of $45M in 2001. That same year, a taxable income of 34.2M except for depletion was produced by the company of B3Gold Namibia for mining the radioactive material. What is the allowable depletion for that year?

Answer rating: 100% (QA)

That year 12996M34238 will be allowable ... View the full answer