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Temple-Inland Corporation has negotiated the rights to cut timber on privately held forest acreage for $700,000. An estimated 350 million board feet of lumber are

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Temple-Inland Corporation has negotiated the rights to cut timber on privately held forest acreage for $700,000. An estimated 350 million board feet of lumber are harvestable. Determine the depletion amount for the first 2 years if 15 million and 22 million board feet are removed

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