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Required information The following information applies to the questions displayed below.J Last Chance Mine (LCM)...

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Required information The following information applies to the questions displayed below.J Last Chance Mine (LCM) purchased a coal deposit for $1,209,350. It estimated it would extract 18,050 tons of coal from the deposit. LCM mined the coal and sold it, reporting gross receipts of $1.37 million, $7.65 million, and $5.5 million for years 1 through 3, respectlvely. During years 1-3, LCM reported net income (loss) from the coal deposit activity In the amount of ($17,400),$585,000, and $405,000, respectively. In years 1-3, LCM extracted 19,050 tons of coal as follows: (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

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