Charles purchases an interest in a uranium mine for $3,000,000 on June 7, 2021 and none of this amount has been previously recovered. Recoverable tonnage is estimated at 900,000. During 2021, 100,000 tons are mined and sold for $1,200,000. Charles incurs $700,000 of expenses during 2021. The percentage depletion rate for uranium is 22 percent. Please show your work. If you don't, I won't be able to give you partial credit. Round your answer to the nearest dollar Charles cost depletion deduction would be Charles percentage depletion deduction would be Charles should use the depletion method