Business

Business, 15.07.2019 02:20, andrwisawesome0

On april 1, 2016, fossil energy company purchased an oil producing well at a cash cost of $12,000,000. it is estimated that the oil well contains 600,000 barrels of oil, of which only 500,000 can be profitably extracted. by december 31, 2016, 25,000 barrels of oil were produced and sold. the amount of depletion expense for 2016 on this well would be:

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