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11) A coal mine has a gross income of $200,000 for the year. Mining expenses equal $170,000. Compute the allowable percentage depletion deduction. (Consider Depletion

11) A coal mine has a gross income of $200,000 for the year. Mining expenses equal $170,000. Compute the allowable percentage depletion deduction. (Consider Depletion percentage for coal is 20%) (show and explain your solution) A. $15,000 B. $1500 C. $30,000 D. $40,000

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