e & E Problem 16.038: Determine the annual percentage depletion for the coal mine A relatively small privately owned coal-mining company has the sales results summarized below Determine the annual percentage depletion for the coal mine. Assume the company's taxable income is $135,000 each year Sales, Tons Spot Sales Price,$/Ton 9.82 Year 11.23 GrossDepletion Income, amount 50% of the | Allowed taxable Depletion