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! Required Information [ The following information applies to the questlons displayed below. ] Last Chance Mine ( LCM ) purchased a coal deposit for

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[The following information applies to the questlons displayed below.]
Last Chance Mine (LCM) purchased a coal deposit for $1,117,500. It estimated it would extract 14,900 tons of coal from the deposit.
LCM mined the coal and sold it, reporting gross recelpts of $1.13 million, $7.25 million, and $5.7 million for years 1 through 3,
respectively. During years 1-3, LCM reported net Income (IOSs) from the coal deposit activity in the amount of ( $17,200), $582,500,
and $535,000, respectively. In years 1-3, LCM extracted 15,900 tons of coal as follows:
Note: Leave no answer blank. Enter zero if applicable. Enter your answers In dollars and not In mllllons of dollars.
a. What is LCM's cost depletion for years 1,2, and 3?
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