Business, 05.05.2020 01:48, pcastaneda03

Whispering Company owns a 7,200-acre tract of timber purchased in 2006 at a cost of $1,352 per acre. At the time of purchase, the land was estimated to have a value of $312 per acre without the timber. Whispering Company has not logged this tract since it was purchased. In 2020, Whispering had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,320 board feet of timber. In 2020, Whispering built 10 miles of roads at a cost of $7,610 per mile. After the roads were completed, Whispering logged and sold 3,640 trees containing 884,000 board feet.

Determine the cost of timber sold related to depletion in 2020.

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Whispering Company owns a 7,200-acre tract of timber purchased in 2006 at a cost of $1,352 per acre....