Required information 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 $1,952,850. It estimated it would extract 13,850 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.38 million, $11 million, and $4 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 ($18,200), $665,000, and $550,000, respectively. In years 1-3, LCM extracted 14,850 tons of coal as follows: (1) Tons of Coal Tons Extracted per Year (2) Basis (2)/(1) Rate Year 1 Year 2 $1,952,850 Year 3 2,100 9,050 3,700 13,850 Depletion $141.00 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's actual depletion expense for each year? Year 1 Year 2 Year 3 Depletion Expense