Last Chance Mine (LCM) purchased a coal deposit for $2,485,700. It estimated it would extract 18,550 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.12 million $6.5 million, and $4.5 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 ($12,900). $635,000, and $475,000, respectively. In years 1-3, LCM extracted 19,550 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 Depletion Tons Extracted per Year Coal (2) Basis (27/(1) Rate Year 1 Year 2 Year 3 18,550 $2,485,700 $134.00 3,580 9,656 6,480 c. Using the cost and percentage depletion computations from parts (a) and (b), what is LCM's actual depletion expense for each year? Depletion Expense Year 1 Year 2 Year 3