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A&Z incurred $430,000 of capitalized costs to develop a uranium mine. The corporations geologists estimated that the mine would produce 860,000 tons of ore. During
A&Z incurred $430,000 of capitalized costs to develop a uranium mine. The corporations geologists estimated that the mine would produce 860,000 tons of ore. During the year, 172,000 tons were extracted and sold. A&Zs gross revenues from the sales totaled $550,400, and its operating expenses for the mine were $165,120. Calculate A&Zs depletion deduction.
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