please dont provide detalis. one sentence for each.

On July 4 of the current year, Lawrence invests $240,000 in a mineral property. He estimates that he will recover 800,000 units of the mineral from the deposit. During the current year, Lawrence recovers and sells 100,000 units of the mineral for $3.50 per unit. Do not round intermediate computations a. Lawrence's cost depletion deduction for the current year is Lawrence's basis in the mineral property after deducting depletion is b. The percentage depletion rate is 10 percent. Lawrence's cost depletion deduction for the current year would be Lawrence's basis in the property after deducting percentage depletion is c. Using the calculations from parts a and b and knowing that Lawrence's income from the mineral before the depletion deduction is $9,200, respond to the following. Lawrence's percentage depletion deduction for the current year would be sTo maximize his depletion deduction, he should deduct depletion based on the cost method. Feedback