5 5.2 points L 00:56:13 TB ES Qu. 10-108 (Algo) Sequoia purchased the rights to cut timber... Sequoia purchased the rights to cut timber on several tracts of land over a 15-year period. It paid $503,000 for cutting rights. A timber engineer estimates that 503,000 board feet of timber will be cut. During the current year, Sequoia cut 48,000 board feet of timber, whic sold for $903,000. What is Sequoia's cost depletion deduction for the current year? Essay Toolbar navigation BIUS === M A| < 7 < K7 KE