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Whittle, Inc, purchased the timber rights for $7,000,000 at the beginning of Year 1. It is expected to produce a totgl of 8,000,000 cords of

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Whittle, Inc, purchased the timber rights for $7,000,000 at the beginning of Year 1. It is expected to produce a totgl of 8,000,000 cords of wood over 4 years, after which it will be sold for $2,000,000. In Year 1 , it cut 380,000 cords of wood. How much Depletion Expense should be recorded in Year 1 using the activity method

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