21 of 3 Required information. [The following information applies to the questions displayed below] Last Chance Mine (LCM) purchased a coal deposit for $1,654,350. It estimated it would extract 13,450 tons of coal from the deposit LCM mined the coal and sold it, reporting gross receipts of $1.35 million, $6.25 million, and $5.2 million for years 1 through 3, respectively. During years 1-3, LCM reported net income (loss) from the coal deposit activity in the amount of ($16,400), $705,000, and $577,500, respectively. In years 1-3, LCM extracted 14,450 tons of coal as follows: (1) Tons of Coal 13,450 Depletion (2) Basis (2)/(1) Rate $1,654,350 $123.00 Year 1 2,550 Tons Extracted per Year Year 2 Year 7,450 4,458 Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollers and not in millions of dollars. a. What is LCM's cost depletion for years 1, 2, and 3? Answer is complete but not entirely correct. Cost Depletion Year 1 313,650 Year 2 $ 916,350 O Year 3 S 547.350