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12 (Chapter 8) Jack purchased a copper mine in Utah in 2021. Jack's acquisition costs were $2,100,000. The estimated recoverable units of copper are 39,000
12 (Chapter 8) Jack purchased a copper mine in Utah in 2021. Jack's acquisition costs were $2,100,000. The estimated recoverable units of copper are 39,000 tons. In 2021, Jack sold 5,000 tons and had $600,000 of gross income. (a) Calculate Jack's percentage depletion for 2021 (the statutory percentage for copper is 15%). (b) Calculate Jack's cost depletion for 2021
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Financial Statement Analysis And Business Valuation Case Studies Using Excel
Authors: Dr Alessio Faccia
1st Edition
979-8863186412
