A company purchased a tract of land for its natural resources at a cost of $1,000,000. It
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A company purchased a tract of land for its natural resources at a cost of $1,000,000. It expects to harvest 5,000,000 board feet of timber from this land. The salvage value of the land is expected to be $200,000. The depletion expense per board foot of timber is:
a). $0.75.
b). $0.24.
c). $0.20.
d). $0.16.
e). $0.04.
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