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Business, 30.03.2020 18:56 proxydayz

On January 15, 2019, Dillon 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. Dillon incurred expenses during 2019 of $500,000. The percentage depletion rate is 22%. Dillon's depletion deduction for 2019 would be:

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On January 15, 2019, Dillon purchased the rights to a mineral interest for $3,500,000. At that time,...
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