A&Z incurred $510,000 of capitalized costs to develop a uranium mine. The corporation's geologists estimated that the
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Question:
A&Z incurred $510,000 of capitalized costs to develop a uranium mine. The corporation's geologists estimated that the mine would produce 1,020,000 tons of ore. During the year, 204,000 tons were extracted and sold. A&Z's gross revenues from the sales totaled $652,800, and its operating expenses for the mine were $195,840. Calculate A&Z's depletion deduction.
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