Mining Corporation bought land for $300,000 (residual value $20,000) that is estimated to yield 600,000 pounds of a removable natural resource. The amounts of natural resources extracted in 2020 and 2021 were 70,000 and 90,000 pounds, respectively. Determine depletion for 2020 and for 2021.

Note: Round the depletion rate to two decimals in your calculations; for example, use a depletion rate of 1.42 for 1.424, or 1.43 for 1.425.

Depletion for 2020
Depletion for 2021