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A quartz mine was acquired for $480,000 and has an adjusted basis of $210,000. An estimated 300,000 tons of quartz remained at the beginning of
A quartz mine was acquired for $480,000 and has an adjusted basis of $210,000. An estimated 300,000 tons of quartz remained at the beginning of the current year. During the current year, 150,000 tons of quartz were mined and 120,000 tons were sold. What is the current-year cost depletion deduction
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