explain each year 2018 and 2019

Help Save & El Submit Check my work mode: This shows what is correct or Incorrect for the work you have completed so far. It does not indicate completion Return to question Jackpot Mining Company operates a copper mine in central Montana. The company paid $1,000,000 in 2018 for the mining site and spent an additional $600,000 to prepare the mine for extraction of the copper. After the copper is extracted in approximately four years, the company is required to restore the land to its original condition, including repaving of roads and replacing a greenbelt. The company has provided the following three cash flow possibilities for the restoration costs (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.: Probability Outflow $300,000 400,000 600,000 400 To aid extraction, Jackpot purchased some new equipment on July 1, 2018, for $120,000. After the copper is removed from this mine, the equipment will be sold for an estimated residual amount of $20,000. There will be no residual value for the copper mine. The credit-adjusted risk-free rate of interest is 10%. The company expects to extract 10 million pounds of copper from the mine. Actual production was 1.6 million pounds in 2018 and 3 million pounds in 2019. Required: 1. Compute depletion and depreciation on the mine and mining equipment for 2018 and 2019. The units-of-production method is used to calculate depreciation. (The expected format for rounding is presented in the appropriate rows of the table. Round your final answers to nearest whole dollar.) Restoration cost: Probability Restoration $ Possibility 1 Possibility 2 Possibility 3 outflow $ 300,000 400,000 600,000 25% 40% 35% 75,000 160,000 210,000 445,000 PV of $1 Table or Calculator function: 1 = 1% 303,939 Present value of probable restoration costs Cost of copper mine: Mining site Development cost Restoration cost Depletion expense (mine): Depletion per pound (#.#####) Pounds extracted Depletion expense $ 1,000,000 600,000 303,939 $ 1,903,939 2018 $ 1.9030 1,600,000 $ 3,046,302 2019 1.9030 $ We w 2018 2019 wepour aperise Depreciation expense (mining equipment) Depreciation per pound (#.##) Pounds extracted Depreciation expense $ 0.00 S00