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Sheffield Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,638 per acre. At the time of purchase, the land without

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Sheffield Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,638 per acre. At the time of purchase, the land without the timber was valued at $468 per acre. In 2010, Sheffield built fire lanes and roads, with a life of 30 years, at a cost of $98,280. Every year, Sheffield sprays to prevent disease at a cost of $3,510 per year and spends $8,190 to maintain the fire lanes and roads. During 2011, Sheffield selectively logged and sold 819,000 board feet of timber of the estimated 4,095,000 board feet. In 2012, Sheffield planted new seedlings to replace the trees cut at a cost of $117,000. Determine the depreciation expense and the cost of timber sold related to depletion for 2011. (Round the final answers too decimal places, es 5,125) Depreciation expense Cost of timber sold $ Sheffield has not logged since 2011. Sheffield logged and sold 1,053,000 board feet of timber in 2022 when the timber cruise appraiser) estimated 5 850,000 board feet, determine the cost of timber sold related to depletion for 2022. (Round Intermediate calculations to 5 decimal places, es. 1.54687 and final answers to decimal places, eg. 5,125) Cost of timber sold $ W e Textbook and Media

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