Last Chance Mine (LCM) purchased a coal deposit for $1,340,500. It estimated it would extract 19,150 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.04 million, $7 million, and $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 ($18,600), $595,000, and $470,000, respectively. In years 1-3, LCM actually extracted 20,150 tons of coal as follows: (Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.) (1) Tons of Coal 19,150 (2) Basis $1,340,500 Depletion (2)/(1) Rate $70.00 Tons Extracted per Year Year 1 Year 2 Year 3 2,700 11,750 5,700 a. What is LCM's cost depletion for years 1, 2, and 3? Year Cost Depletion