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o 2019 Dodge Charger SRT He X M Question 34 - Ch 10 Assignm X * Chat Thread ChatGPT b ezto.mheducation.com/ext/map/index.html?_con=con&external_browser 52F%252Fnewconnect.mheducation.com%252F#/activity/question-group/KEZASsBKEPUGL9bt-Ts; Saved Help Save & Exit Submit Ch 10 Assignment @ Check my work mod his shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Required information Part20of 3 Problem 10-75 (LO 10-5) (Algo) LRy [The following information applies to the questions displayed below.] 2.85 Last Chance Mine (LCM) purchased a coal deposit for $1,334,750. It estimated it would extract 14,050 tons of coal from the points deposit. LCM mined the coal and sold it, reporting gross receipts of $1.01 million, $4 million, and $2.9 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 ($13,800), $592,500, and $522,500, respectively. In years 1-3, LCM extracted 15,050 tons of coal as follows: (1) Tons of Depletion Tons Extracted per Year Coal (2) Basis (2)+(1) Rate Year 1 Year 2 Year 3 14,050 $1,334,750 $95.00 3,600 7,550 3,900 Note: Leave no answer blank. Enter zero if applicable. Enter your answers in dollars and not in millions of dollars. Problem 10-75 Part b (Algo) b. What is LCM's percentage depletion for each year (the applicable percentage for coal is 10 percent)? Answer is complete but not entirely correct. e Year 1 $ 0Q Year 2 $ 400,000 @ Year 3 $ 290,000