JRAcquires an Oil and Gas Property Interest for $300,000

question 34

Multiple Choice

J.R.acquires an oil and gas property interest for $300,000.J.R.expects to recover 50,000 barrels of oil.Intangible drilling and development costs are $80,000 and are charged to expense.Other expenses are $20,000.During the year,13,000 barrels of oil are sold for $170,000.J.R.'s depletion deduction is

• A)$25,500.
• B)$35,000.
• C)$70,000.
• D)$78,000.

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Thread Class

A class in programming that represents a thread of execution in a program, allowing for concurrent operations within the application.