Blue Company owns 9,000 acres of timberland purchased in 2009 at a cost of $1,708 per acre. At the time of purchase, the land without the timber was valued at $488 per acre. In 2010, Blue built fire lanes and roads, with a life of 30 years, at a cost of $102,480. Every year, Blue sprays to prevent disease at a cost of $3,660 per year and spends $8,540 to maintain the fire lanes and roads. During 2011, Blue selectively logged and sold 854,000 board feet of timber, of the estimated 4,270,000 board feet. In 2012, Blue planted new seedlings to replace the trees cut at a cost of $122,000.
Required:
Determine the depreciation expense and the cost of timber sold related to depletion for 2012.

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.