Exercise 8-28 (Algorithmic) (LO. 8) Jeball Company reports gross income of $388,400 and other property-related expenses of $252,460 and uses a depletion rate of 21%. Calculate Jeballs depletion allowance for the current year. Feedback Check My Work Natural resources (e.g., oil, gas, coal, gravel, and timber) are subject to depletion, which can be seen as a form of depreciation applicable to natural resources