Required information [The following information applies to the questions displayed below.] Last Chance Mine (LCM) purchased a coal deposit for $2,918,300. It estimated it would extract 18,950 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.24 million, $13 million, and $11 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 (\$11,400), $550,000, and $502,500, respectively. In years 1-3, LCM extracted 19,950 tons of coal as follows: Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars. a. What is LCM's cost depletion for years 1,2 , and 3 ? b. What is LCM's percentage depletion for each year (the applicable percentage for coal is 10 percent)? c. Using the cost and percentage depletion computations from parts (a) and (b), what is LCM's actual depletion expense for each year? \begin{tabular}{|c|c|} \hline & DepletionExpense \\ \hline Year 1 & \\ \hline Year 2 & \\ \hline Year 3 & \\ \hline \end{tabular}