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Exercise 8-28 (Algorithmic) (LO. 8) Jebali Company reports gross income of $560,000 and other property-related expenses of $364,000 and uses a depletion rate of 21%.

Exercise 8-28 (Algorithmic) (LO. 8)

Jebali Company reports gross income of $560,000 and other property-related expenses of $364,000 and uses a depletion rate of 21%.

Calculate Jebali's depletion allowance for the current year.

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