Problem 11-7 Your answer is partially correct. Try again. Kingbird Paper Products purchased 12,300 acres of forested timberland in March 2017. The company paid $2,091 per acre for this land which as above the $984 per acre most farmers ere paying for cleared land. D ring April Hay, June, and July 2017, Kingbird cut enough timber to build roads using moveable equipment purchased on April 1, 2017. The cost o the oads was $307,500 and the cost o the equipment as 275 750; this equipment as expected to have a $11,070 salvage value and nould be used for the next 15 years. Kingbird selected the straight-line method of depreciation for the moveable equipment. Kingbird began actively harvesting timber in August and by December had harvested and sold 654,200 board feet of timber of the estimated 8,302,500 board feet available for outting and would De teet avaibl In March 2018, Kingbird planted new seedlings inn the area harvested during the winter. Cost of planting these seedlings was $147.600. In addition, Kingbird spent $9,840 in road maintenance and $7,390 for pest spraying during calendar-year 2019. The road maintenance and spraying are annual costs. During 2019, Kingbird harvested and sold 952,020 board feet of timber of the estimated 7,933,500 board feet available for cutting. praying. During 2019, the In March 2019, Kingbird again planted naw scadings at a cost of $184,5oD, and also spent $18,450 on road maintenance and past s company harvested and sold 799,500 board fect of timber of the estimated 7,995,000 board feat available for cutting Comp te the amount of deprecia on and de 1e on expense f r each of the 3 years 2017 2018, and 2019 ss me hat the ads are usable only for ogging and therefore a e inc ed in the depletion base. Round answers to Odecin lpia es el 45 892 2017 2018 2019 Depletion Expense Depredation Expense