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Exercise 11-21 Flounder Company owns a 7,400-acre tract of timber purchased in 2006 at a...

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Exercise 11-21 Flounder Company owns a 7,400-acre tract of timber purchased in 2006 at a cost of $1,625 per acre. At the time of purchase, the land was estimated to have a value of $325 per acre without the timber. Flounder Company has not logged this tract since it was purchased. In 2020, Flounder had the timber cruised. The cruise (appraiser) estimated that each acre contained 10,000 board feet of timber. In 2020, Flounder built 10 miles of roads at a cost of $8,490 per mile. After the roads were completed, Flounder logged and sold 4,375 trees containing 1,062,500 board feet. Determine the cost of timber sold related to depletion for 2020. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to o decimal places, e.g. 5,125.) Cost of timber sold s LINK TO TEXT If Flounder depreciates the logging roads on the basis of timber cut, determine the depreciation expense for 2020. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to o decimal places, e.g. 5,125.) Depreciation expenses LINK TO TEXT If Flounder plants five seedlings at a cost of $5 per seedling for each tree cut, how should Flounder treat the reforestation? Flounder should the cost of $

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