C. PROBLEM 4: AMORTIZATION AND DEPLETION ENTRIES ("Amortization and Depletion Entries") Objective: Registration of amortization and depletion entries Data: Empresas Maderera incurred in the acquisition of timber rights and intangible assets for the current year ending on November 30: Timber rights on a piece of land were purchased on June 10 for $900,000. Lumber sizes are estimated to be 4,600,000 board feet. During this month, 2,500,000 board feet were cut and sold. 1. On November 30, the company determined that there was a loss of goodwill for $4,500,000. 2. On February 5, legal and government costs of $1,900,000 were incurred to obtain a patent. An economic life of 10 years is estimated. Required: A. Determine the amount of depletion for the current year. B. Determine the amount of impairment for the current year. C. Determine the amount of amortization for the current year. D. Enter the necessary journal entry to record depletion, impairment, and amortization for the year ending November 30.