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Jack purchased a copper mine in Utah in 2020. Jack's acquisition costs were $4,000,000. The estimated recoverable units of copper are 90,000 tons. In 2020,

Jack purchased a copper mine in Utah in 2020. Jack's acquisition costs were $4,000,000. The estimated recoverable units of copper are 90,000 tons. In 2020, Jack sold 12,000 tons and had $250,000 of gross income.

(a) Calculate Jack's percentage depletion for 2020 (the statutory percentage for copper is 15%)?

(b) Calculate Jack's cost depletion for 2020?

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