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Is this the correct preference amount

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Problem - Kiki, who incurred intangible drilling costs (IDC) of $94,000 during the year, deducted that amount for regular tax purposes. Her net oil and gas income for the year was $110,000. Currently, Kiki has no income from geothermal wells. Kiki has calculated her current-year IDC preference to be $9,400. Is this the correct preference amount?

Reference no: EM132669469

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