At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

an oil well is subject to a 15% depletion allowance. the gross income for one year is $250,000. the taxable income excluding depletion is $180,000. find the allowable depletion charge for that year.