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Sequoia Timber Company purchased land containing an estimated 6,500,000 board feet of lumber for $3,700,000. The company invested another $300,000 to construct access roads and a company depot. The residual value of the property and equipment is estimated to be $880,000. a. What is the average depletion cost per board foot of lumber? b. If 782.000 board feet were cut in the second year of operation, what is the amount of the depletion cost for that year?

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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447
BuyFind

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447

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Chapter
Section
Chapter 17.II, Problem 7RE
Textbook Problem

Sequoia Timber Company purchased land containing an estimated 6,500,000 board feet of lumber for $3,700,000. The company invested another $300,000 to construct access roads and a company depot. The residual value of the property and equipment is estimated to be $880,000.

a. What is the average depletion cost per board foot of lumber?

b. If 782.000 board feet were cut in the second year of operation, what is the amount of the depletion cost for that year?

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Chapter 17 Solutions

Contemporary Mathematics for Business & Consumers
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