On March 1, 20XA, Bryce Mott purchases mineral rights (MR) for $80,000. On June 1, 20XA, he leases the mineral rights to Hampton Oil Company, retaining a 1/8 royalty interest (RI). Hampton Oil Company pays Mott a lease bonus of

$5,000. On June 1, 20XB, a delay rental of $1,000 is received by Mott. Oil royalties of $30,000 are paid to Mott in 20XC. Reserves at 12/31/20XC are 20,000 barrels, and production and sales for the year are 3,000 barrels. The reserve, production, and sales data apply only to Bryce Mott.

REQUIRED: Determine the tax basis of any assets owned by Bryce Mott and the amount of any tax revenues reported and any tax deductions taken by Bryce Mott in each of the three years.