Question: please complete will upvote QUESTION 10 Last Chance Mine (LC) purchased a coal deposit for $720,000 tt estimated I would extract 12,000 tons of coal

QUESTION 10 Last Chance Mine (LC) purchased a coal deposit for $720,000 tt estimated I would extract 12,000 tons of coal from the deposit LC mined the coal and sold it reporting po receipt of $1 million for year 1. During your 1, LC reported net income from the cool deposit activity in the amount of $80,000. In year 1, LC actually extracted 3.000 Sons of coal. What is Last Chance's percentage depletion for your 1 (the applicabile percentage for coal is 10 percent? QUESTION 1 Brittany started a law practice as a sole proprietot. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. What is the depreciable basis that Brittany should use in her business for each asset, given the following information? Asset Computer Printer Desk File cabinet Purchase Price FMV at Time Converted $2.500 $600 $300 $150 $1.200 $800 $200 $225 1750
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