9. Last Chance Mine (LC) purchased a coal deposit for $720,000. It estimated it would extract 12,000 tons of coal from the deposit. LC mined the coal and sold it reporting gross receipts of $1 million for year 1. During year 1, LC reported net income from the coal deposit activity in the amount of $40,000. In year 1, LC actually extracted 2,000 tons of coal. What is Last Chances cost depletion for years 1?

6.AMP Corporation (calendar year end) has 2019 taxable income of $1,825,000 before the 179 expense. During 2019, AMP acquired the following assets:

Asset		Placed in Service	Basis
Machinery		September 12	$1,540,000
Computer Equipment		February 10	365,000
Office Building		April 2	480,000
Total			$2,385,000

What is the maximum amount of 179 expense AMP may deduct for 2019?