Wildhorse Company owns 9,000 acres of timberland purchased in 2006 at a cost of $1,652 per acre. At the time of purchase, the land without the timber was valued at $472 per acre. In 2007, Wildhorse built fire lanes and roads, with a life of 30 years, at a cost of $99,120. Every year, Wildhorse sprays to prevent disease at a cost of $3,540 per year and spends $8,260 to maintain the fire lanes and roads. During 2008, Wildhorse selectively logged and sold 826,000 board feet of timber, of the estimated 4,130,000 board feet. In 2009, Wildhorse planted new seedlings to replace the trees cut at a cost of $118,000.

Wildhorse has not logged since 2008. If Wildhorse logged and sold 1,062,000 board feet of timber in 2019, when the timber cruise (appraiser) estimated 5,900,000 board feet, determine the cost of timber sold related to depletion for 2019. (Round intermediate calculations to 5 decimal places, e.g. 1.54687 and final answers to 0 decimal places, e.g. 5,125.)

Cost of timber sold

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