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What percent of the taxpayer taxable income derived

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Reference no: EM132906300

Question - A percentage depletion deduction computed on a natural resource cannot exceed what percent of the taxpayer's taxable income derived from the natural resource for the year before deducting the depletion deduction?

1) 50 percent

2) 65 percent

3) 75 percent

4) 85 percent

Reference no: EM132906300

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