Business, 23.11.2019 00:31, heyyyyy39

On january 15, 2019, vern purchased the rights to a mineral interest for $3,500,000. at that time, it was estimated that the recoverable units would be 500,000. during the year, 40,000 units were mined and 25,000 units were sold for $800,000. vern incurred expenses during 2019 of $500,000. the percentage depletion rate is 22%. determine vern's depletion deduction for 2019.

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On january 15, 2019, vern purchased the rights to a mineral interest for $3,500,000. at that time, i...