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

Last Chance Mine (LCM) purchased a coal deposit for $2,485,700. It estimated it would extract 18,550 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.12 million, $6.5 million, and $4.5 million for years 1 through 3, respectively. During years 13, LCM reported net income (loss) from the coal deposit activity in the amount of ($12,900), $635,000, and $475,000, respectively. In years 13, LCM actually extracted 19,550 tons of coal as follows: (Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars.)

(1)	(2)	Depletion (2)/(1)	Tons Extracted per Year
Tons of Coal	Basis	Rate	Year 1	Year 2	Year 3
18,550	$2,485,700	$134.00	3,500	9,650	6,400

b. What is LCM's percentage depletion for each year (the applicable percentage for coal is 10 percent)?

Year	Percentage Depletion
1
2
3