Question

On june 15, 2018, louise purchased the rights to a gravel interest for $1,500,000. At that time, it was estimated that the recoverable units would be 100,000. During the year, 20,000 units were mined and 10,000 units were sold for $200,000. Louise incurred expenses during 2018 of $50,000. Louise's depletion deduction for 2018 using the percentage depletion method would be:

Answer 1

Answer:

that is a tough question

Answer 2

Answer:

too hard so i think the answer is 60