Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.

50% of the fixed percentage of gross income or 50% of the net taxable income

Fixed percentage of gross income or the net taxable income

Fixed percentage of gross income or 50% of the net taxable income

50% of the fixed percentage of gross income or the net taxable income

Under the depletion allowance method in computing depreciation, the d

1.	Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.
A.	Fixed percentage of gross income or the net taxable income
B.	Fixed percentage of gross income or 50% of the net taxable income
C.	50% of the fixed percentage of gross income or 50% of the net taxable income
D.	50% of the fixed percentage of gross income or the net taxable income
Answer» C. 50% of the fixed percentage of gross income or 50% of the net taxable income

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Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ______ whichever is smaller.

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