- Week 4 - Homework: Chapter 11 Question 2 of 10 -12.5 1 View Policies Current Attempt in Progress Kingbird Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,694 per acre. At the time of purchase, the land without the timber was valued at $484 per acre. In 2010, Kingbird built fire lanes and roads, with a life of 30 years, at a cost of $101,640. Every year, Kingbird sprays to prevent disease at a cost of $3,630 per year and spends $8,470 to maintain the fire lanes and roads. During 2011, Kingbird selectively logged and sold 847,000 board feet of timber, of the estimated 4,235,000 board feet. In 2012, Kingbird planted new seedlings to replace the trees cut at a cost of $121,000. Part 1 Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round the final answers to O decimal places, e.g. 5,125.) Depreciation expense $ Cost of timber sold e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer Part 2 Kingbird has not logged since 2011. If Kingbird logged and sold 1,089,000 board feet of timber in 2022, when the timber cruise (appraiser) estimated 6,050,000 board feet, determine the cost of timber sold related to depletion for 2022. (Round intermediate calculations to 5 decimal places, e.g. 1.54687 and final answers to O decimal places, e.g. 5,125.) Cost of timber sold $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit