Cape Fear Riverwood is lumber company that specializes in recovering, cutting, and selling wood from trees discarded long ago,even those that have been underwater or buried in the ground for more than 100 year ! Historically, the logging industry used rafts made of wood to transport cut trees to logging pens along the Cape Fear River in North Carolina. some of heavier trees sank during transportation. Other trees were intentionally dumped in the river for disposal after being bled for turpentine. The company used side-scan penetrating radar to find large quantities of logs in 30 locations in and around the river. The first two sites the company salvaged contained heart pine and river pine. A more recent site contained a treasure trove of perfectly preserved 38,000-year-old cypress trees buried 30 feet in a sand pit. Scientists have identified these as tree that became extinct more than 20,000 years ago.
The cypress trees are 60 to 80 feet long. If there are 14,285 trees at an average length of 70 feet, how many feet of wood will the company have?
2. If the cypress is worth $80 per foot, what are the 14,285 trees worth?
3.If the cost to recover the 60 to 70 foot cypress trees is $375 each and the cost to harvest the larger trees is $500, how much it cost to recover all of the trees if 2/5 of the trees are more than 70 feet long?
4. Because the harvested lumber depletes the amount of natural resource available ti the citizens of North Carolina, the state of North Carolina place an excise tax of 1/20 of all profits earned by lumber companies within the state. If the harvested cypress wood is worth approximately $80,000,000 and the only expense of obtaining the wood is the recovery cost, how much excise tax is owned to North Carolina?
I just answered the first three questions.
How do you think you an solve # 4?
1/20*80,000,000=4,000,000
1. To find the total feet of wood that the company will have, we can multiply the number of trees by the average length of each tree:
Total feet of wood = number of trees * average length of each tree
Total feet of wood = 14,285 * 70
Total feet of wood = 999,950 feet
Therefore, the company will have a total of 999,950 feet of wood.
2. To find the worth of the 14,285 trees, we can multiply the total feet of wood by the value per foot:
Worth of the 14,285 trees = total feet of wood * value per foot
Worth of the 14,285 trees = 999,950 feet * $80/foot
Worth of the 14,285 trees = $79,996,000
Therefore, the 14,285 trees are worth $79,996,000.
3. To find the cost of recovering all the trees, we need to calculate the cost for each category of trees and then multiply it by the number of trees in each category:
Cost to recover 60-70 foot cypress trees = $375 each
Cost to recover larger trees = $500 each
Number of trees that are 60-70 feet = 2/5 * 14,285
Number of trees that are 60-70 feet = 5,714 trees
Number of trees that are larger than 70 feet = 14,285 - 5,714
Number of trees that are larger than 70 feet = 8,571 trees
Total cost to recover all trees = (Cost to recover 60-70 foot trees * number of trees that are 60-70 feet) + (Cost to recover larger trees * number of trees that are larger than 70 feet)
Total cost to recover all trees = ($375 * 5,714) + ($500 * 8,571)
Total cost to recover all trees = $2,144,250 + $4,285,500
Total cost to recover all trees = $6,429,750
Therefore, it will cost $6,429,750 to recover all of the trees.
4. The excise tax owed to North Carolina can be calculated by multiplying the profits earned from the harvested cypress wood by the tax rate:
Excise tax owed to North Carolina = profits earned from harvested cypress wood * tax rate
Tax rate = 1/20 = 0.05
Excise tax owed to North Carolina = $80,000,000 * 0.05
Excise tax owed to North Carolina = $4,000,000
Therefore, $4,000,000 is owed to North Carolina as excise tax.
To answer these questions, we'll need to do some calculations based on the given information. Let's break it down step by step:
1. To find the total feet of wood the company will have, we multiply the number of trees (14,285) by the average length of a tree (70 feet):
Total feet of wood = 14,285 trees * 70 feet/tree
Total feet of wood = 999,950 feet
Therefore, the company will have approximately 999,950 feet of wood.
2. To find the worth of the 14,285 trees, we multiply the number of trees by the value per foot ($80):
Worth of the trees = 14,285 trees * $80/tree
Worth of the trees = $1,142,800
Therefore, the 14,285 trees would be worth approximately $1,142,800.
3. To calculate the cost of recovering all the trees, we'll need to consider the different costs for trees of different lengths:
- For trees between 60 and 70 feet long, the recovery cost is $375 each.
- For trees longer than 70 feet, the recovery cost is $500 each.
Let's start by finding the number of trees that are longer than 70 feet:
Number of trees longer than 70 feet = 2/5 * 14,285 trees
Number of trees longer than 70 feet = 5,714 trees
Now we can calculate the cost of recovering all the trees:
Cost = (Number of trees between 60 and 70 feet long * $375) + (Number of trees longer than 70 feet * $500)
Cost = (8,571 trees * $375) + (5,714 trees * $500)
Cost = $3,214,125 + $2,857,000
Cost = $6,071,125
Therefore, it would cost approximately $6,071,125 to recover all the trees.
4. To find the excise tax owed to North Carolina, we need to calculate 1/20 of the profits earned by the company:
Excise tax = (1/20) * $80,000,000
Excise tax = $4,000,000
Therefore, the excise tax owed to North Carolina would be approximately $4,000,000.