2 / ABC Company purchased for $5,600,000 a land estimated to contain 2 million board feet of timber. When the timber is completely logged, it was expected that the land would be worth $200,000. A building and equipment costing $2,800,000 were constructed on the land, and they will be completely used up and have no salvage value when the land is cleared. Discuss the computation of the depletion per board feet of timber.
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