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Exercise 8-30 (LO. 8) Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%. Calculate

Exercise 8-30 (LO. 8)

Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%.

Calculate Jebalis depletion allowance for the current year. $_______________

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