CON03 Question 1 View Policies Current Attempt in Progress Concord Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1.470 per acre. At the time of purchase, the land without the timber was valued at $420 per acre. In 2010, Concord built fire lanes and roads, with a life of 30 years, at a cost of $88,200. Every year, Concord sprays to prevent disease at a cost of $3,150 per year and spends $7,350 to maintain the fire lanes and roads. During 2011, Concord selectively logged and sold 735,000 board feet of timber, of the estimated 3,675,000 board feet. In 2012. Concord planted new seedlings to replace the trees cut at a cost of $105,000. Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round intermediate calculations to 5 decimal places, eg. 1.54687 and final answers to decimal places, eg. 5,125.) Depreciation expenses Cost of timber sold $