Last Chance Mine (LC) purchased a coal deposit for $2,214,900. It estimated it would extract 20,700 tons of coal from the deposit. LC mined the coal and sold it, reporting gross receipts of $1.44 million, $8.2 million, and $3.2 million for years 1 through 3, respectively. During years 13, LC reported net income (loss) from the coal deposit activity in the amount of ($12,800), $590,000, and $540,000, respectively. In years 13, LC actually extracted 21,700 tons of coal as follows