Jackpot Mining Company operates a copper mine in central Montana. The company paid $1,000,000 in 2018 for the mining site and spent an additional $600,000 to extraction of the copper. After the copper is extracted in approximately four years, the company is required to restore the land to its original condition, including repaving of roads and replacing a greenbelt. The company has provided the following three cash flow possibilities for the restoration costs (FV of $1, PV of S1, FVA of S1, PVA of S1, FVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.): prepare the mine for Cash Probabilit Outflow 1 300,000 2 400,000 3 0o,000 25s 40 35% To aid extraction, Jackpot purchased some new equipment on July 1, 2018, for $120,000. After the copper is removed from this mine, the equipment wil be sold for an estimated residual amount of $20,000. There will be no residual value for the copper mine. The credit-adjusted risk-free rate of interest is 10%. The company expects to extract 10 million pounds of copper from the mine. Actual production was 1.6 million pounds in 2018 and 3 million pounds in 2019 Required: 1. Compute depletion and depreciation on the mine and mining equipment for 2018 and 2019. The units-of-production method is used to calculate depreciation. (The expected format for rounding is presented in the appropriate rows of the table. Round your final answers to nearest whole dollar.) e Restoration costs: Possibility Possibility 2 Possibility 3 $300,000 400,000 600.000 25% 40% 35% $75,000 160,000 210,000 $445,000 PV of SI Table or Calculator function: 10% Present value of probable restoration $303,939 $1,000,000 6D0.00 303.909 $1,903909 Mining site Development cost Depletion per pound (8.mn#) Pounds extracted S0,0000 Depletion expense n expense Imining 2018 2019 Depreciation per pound Pounds cxtracted Depreciation expense S0.00