Problem $10-75($LO $10-5)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Last Chance Mine $($LCM$)$ purchased a coal deposit for $$1,892,750.$ It estimated it would extract $16,750$ tons of coal from the deposit. LCM mined the coal and sold it$,$ reporting gross receipts of $$1\mathrm{.}30$ million, $$8\mathrm{.}5$ million, and $$7$ 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 $($$$19,100),$$$720,000,$ and $$585,000,$ respectively. In years $1-3,$ LCM extracted $17,750$ tons of coal as follows:

$\backslash$table$[[(1)$ Tons of$,,$Depletion,Tons Extracted per Year$],[$Coal$,(2)$ Basis,$(2)(1)$ Rate,Year $1,$Year $2,$Year $3,],[16,750,$$$1,892,750,$$$113\mathrm{.}00,3,200,9,950,4,600,]]$

Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.

Problem $10-75$ Part c $($Algo$)$

c$.$ Using the cost and percentage depletion computations from parts $($a$)$ and $($b$),$ what is LCM$\text{'}$s actual depletion expense for each year?

$\backslash$table$[[,,\backslash$table$[[$epletion$],[$xpense$]]],[$Year $1,$$$,361,600],[$Year $2,$$$,360,000ox$