Q. Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ________________ which ever 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
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