Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A 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.