3 Required information Problem 10-75 (LO 10-5) (Algo) [The following information applies to the questions displayed below] Last Chance Mine (LCM) purchased a coal deposit for $1,209,350. It estimated it would extract 18,050 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.37 million, $765 million, and $5.5 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 ($17,400), $585,000, and $405,000, respectively. In years 1-3, LCM extracted 19,050 tons of coal as follows: (Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.) (1) Tone of Coal 10.050 (2) Bar $1,209, 350 Depletion (2)/(1) Kate $67.00 Year 1 Tons Extracted per Yes Year 2 Year 3 3.750 11.050 4.250 Problem 10-75 Part a (Algo) a. What is LCM's cost depletion for years 1, 2, and 3 Answer is complete but not entirely correct. Cost Depletion Year 1 251,250 Year 2 S 740,350 Year 3 284.750x