(10 pts) 1. A lumber company bought rights to a tract of timber for $30,000. The estimated amount of standing timber in the tract was 1.5 million board-feet. In the first year, the company cut 100,000 board-feet of standing timber. The first year's cost depletion allowance ($) is closest to: O $2,000 O $20,000 O $450,000 0 $200