Engineering Economics
Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%.

P 9,308.45
P 9,358.41
P 9,228.45
P 9,250.00

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Engineering Economics
Which is NOT an essential element of an ordinary annuity?

The amounts of all payments are equal.
The first payment is made at the beginning of the first period.
The payments are made at equal interval of time.
Compound interest is paid on all amounts in the annuity.

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