Headland Company owns a 7,500-acre tract of timber purchased in 2006 at a cost of $1,482 per acre. At the time of purchase, the land was estimated to have a value of $342 per acre without the timber. Headland Company has not logged this tract since it was purchased. In 2020, Headland had the timber cruised. The cruise (appraiser) estimated that each acre contained 9,120 board feet of timber. In 2020, Headland built 10 miles of roads at a cost of $8,400 per mile. After the roads were completed, Headland logged and sold 3,990 trees containing 969,000 board feet.