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Big Wood, Inc. purchased a lumber tract for $75,000 and has incurred costs of $6,000 in developing it. The tract is estimated to contain 100,000
Big Wood, Inc. purchased a lumber tract for $75,000 and has incurred costs of $6,000 in developing it. The tract is estimated to contain 100,000 board feet of timber and will have a salvage value of $9,000 after the timber has been cut. If 25,000 board feet were cut during the year, the depletion expense would be: $ ______
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