Exercise 11-17 (Algo) Depreciation and depletion [LO11-2, 11-3] 2 At the beginning of 2021. Terra Lumber Company purchased a timber tract from Boise Cantor for Pom $3.160,000. After the timber is cleared, the land will have a residual value of $780000. Roads to enable Skipped logging operations were constructed and completed on March 30. 2021. The cost of the roads. which have no residual value and no alternative use after the tract is cleared. was $238,000. During 2021, Terra logged 680.000 of the estimated 6.8 million board feet of timber. eBEok Required: Calculate the 2021 depletion of the timber tract and depreciation of the logging roads assuming the units- @ ofproduction method is used for both assets. (Do not round intermediate calculations. Enter values in H'\"' whole dollars.) \"Ell Print Depletion of the timber tract [Fl Depreciation of the logging roads References