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Bridgeport Company owns a 8,190-acre tract of timber purchased in 2003 at a cost of $1,521 per acre. At the time of purchase, the land
Bridgeport Company owns a 8,190-acre tract of timber purchased in 2003 at a cost of $1,521 per acre. At the time of purchase, the land was estimated to have a value of $351 per acre without the timber. Bridgeport Company has not logged this tract since it was purchased. In 2017, Bridgeport had the timber cruised. The cruise (appraiser) estimated that each acre contained 9,360 board feet of timber. In 2017, Bridgeport built 10 miles of roads at a cost of $9,173 per mile. After the roads were completed, Bridgeport logged and sold 4,095 trees containing 994,500 board feet. Determine the cost of timber sold related to depletion for 2017. (Round intermediate calculations to 5 decimal places, e.g. 1.24654 and final answer to 0 decimal places, e.g. 5,125.) Cost of timber sold If Bridgeport depreciates the logging roads on the basis of timber cut, determine the depreciation expense for 2017. (Round intermediate calculations to 5 decimal places, e.g. 1.2465 and final answer to O decimal places, e.g. 5,125.) Depreciation expense If Bridgeport plants five seedlings at a cost of $5 per seedling for each tree cut, how should Bridgeport treat the reforestation? Bridgeport should
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