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View Policies Current Attempt in Progress Skysong Paper Products purchased 10,600 acres of forested timberland in March 2020. The company paid $1,802 per acre for this land, which was above the $848 per acre most farmers were paying for cleared land. During April May June and July 2020, Skysong cut enough timber to build roads using moveable equipment purchased on April 1.2020. The cost of the roads was $265,100, and the cost of the equipment was $238,500; this equipment was expected to have a $9.540 salvage value and would be used for the next 15 years. Skysong selected the straight-lirje method of depreciation for the moveable equipment. Skysong began actively harvesting timber in August and by December had harvested and sold 572,400 board feet of timber of the estimated 7,155,000 board feet available for cutting In March 2021, Skysong planted new seedlings in the area harvested during the winter. Cost of planting these seedlings was $127.200. In addition, Skysong spent $8.480 in road maintenance and $6,360 for pest spraying during calendar-year 2021. The road maintenance and spraying are annual costs. During 2021. Skysong harvested and sold 820,440 board feet of timber of the estimated 6,837.000 board feet available for cutting In March 2022. Skysong again planted new seedlings at a cost of $159,000, and also spent $15.900 on road maintenance and pest spraying. During 2022, the company harvested and sold 689,000 board feet of timber of the estimated 6,890,000 board feet available for cutting Compute the amount of depreciation and depletion expense for each of the 3 years (2020, 2021, and 2022). Assume that the roads are usable only for logging and therefore are included in the depletion base. (Round Intermediate calculations to 5 decimal places as 108541 onda to decipie5892 2020 2021 2022 $ 5 Depletion Expense $ $ 5 Depreciation Expense e Textbook and Media Attempts: 0 of 5 used Submit