Metlock Company owns 9,000 acres of timberland purchased in 2006 at a cost of $1,596 per acre. At the time of purchase, the land without the timber was valued at $456 per acre. In 2007, Metlock built fire lanes and roads, with a life of 30 years, at a cost of s95,760. Every year, Metlock sprays to prevent disease at a cost of $3,420 per year and spends $7,980 to maintain the fire lanes and roads. During 2008, Metlock selectively logged and sold 798,000 board feet of timber, of the estimated 3,990,000 board feet. In 2009, Metlock planted new seedlings to replace the trees cut at a cost of $114,000 cost of 09 Me ock planted newseed ngs to replace the ret ock selectively logged and sold 798,000 boa (a) E] Your answer is correct. Determine the depreciation expense and the cost of timber sold related to depletion for 2008 (Round 1.54687 and final answers to 0 decimal places, e.g.5,125.) terme ateca culations to 5 decen a paces e Depreciation expense 3192 Cost of timber sold 2052000 SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR EXERCISE Attempts: 2 of 3 used (b) Metlock has not logged since 2008. If Metlock logged and sold 1,026,000 board feet of timber in 2019, when the timber cruise (appraiser) estimated 5,700,000 board feet, determine the cost of timber sold related to depletion for 2019. (Round intermediate calculations to 5 decimalplaces, e.g. 1.54687 and ial answers to O decimal places, e.g. 5,125.) Cost of timber solod