Striker Corporation bought a mine in year 1 for $100,000 and estimated that there were 100,000 tons
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Striker Corporation bought a mine in year 1 for $100,000 and estimated that there were 100,000 tons of ore to be extracted. In year 1, it mined 10,000 tons and sold 8,000 tons. In year 2, it mined 9,000 and sold the remaining 2,000 tons from year 1 and 6,000 of the ore mined in year 2. At the end of year 2, Striker Corporation estimated that, including the ore extracted but unsold, there were 150,000 tons of ore remaining. Compute the allowable cost depletion for year 1 and year 2.
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Taxation For Decision Makers 2008
ISBN: 9780324654110
2nd Edition
Authors: Shirley Dennis-Escoffier, Karen A. Fortin
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