Problem 11-06 (Part Level Submission) Concord Logging and Lumber Company ows 3,040 acres of timberland on the north side of Mount Lane, which was purchased in 2008 at a cost of $50 per acre. I 2020, Concord began selectively logging this timber tract. In May 2020, Mount Lano erupted, burying the timberland of Concord under a foot of ash. All of the timber on the Concord tract was downed. In addition, the logging road but at a cost of $139,700, were destroyed, as well as the logging equipment, with a netbook value of 5329,400 At the time of the eruption, Concord had logged 20% of the estimated 440,750 board feet of timber. Prior to the eruption, Concord estimated the land to have a value of $220 per acreafter the timber was harvested. Concord indudes the long roads in the depletion base Corcord utmates will take 3 years to salvage the downed the scout of 1706, 700. The timber can be sold for puls wood at an estimated price of 33 per board font. The value of the land unknown, but must be considered nominal due to tune certainties () Your wris correct. Determine the deletion cost per board foot for the time harvested in to the eruption of Mount (ound preinte decimal 6.45) 2.0 Denne er board oot Your answer is incorrect. Try again. of this tract represents approximately half of the timber holdings of Concord, determine the amount of the unusual oss due to the ention of Mount Lone for the year ended December 31, 2020, Unusual loss due to the eruption of Mount Leno 109450