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Last Chance Mine ( LCM ) purchased a coal deposit for $ 2 , 2 8 2 , 4 0 0 . It estimated it

Last Chance Mine (LCM) purchased a coal deposit for $2,282,400. It estimated it would extract 15,850 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.21 million, $5.1 million, and $4.3 million for years 1 through 3, respectively. During years 1-3, LCM reported net income (loss) from the coal deposit activity in the amount of ($16,500),$730,000, and $527,500, respectively. In years 1-3, LCM extracted 16,850 tons of coal as follows:
Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.
a. What is LCM's cost depletion for years 1,2, and 3?
\table[[,Cost Depletion],[Year 1,],[Year 2,],[Year 3,]]
Last Chance Mine (LCM) purchased a coal deposit for $2,282,400. It estimated it would extract 15,850 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.21 million, $5.1 million, and $4.3 million for years 1 through 3, respectively. During years 1-3, LCM reported net income (loss) from the coal deposit activity in the amount of ($16,500),$730,000, and $527,500, respectively. In years 1-3, LCM extracted 16,850 tons of coal as follows:
Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.
a. What is LCM's cost depletion for years 1,2, and 3?
\table[[,Cost Depletion],[Year 1,],[Year 2,],[Year 3,]]
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