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  1. The Saudi Arabian Oil Refinery developed an oil well which is estimated to contain 5,000,000 barrels of oil at an initial cost of $ 50,000,000. What is the depletion charge during the year where it produces half million barrels of oil? Use Unit or Factor method in computing depletion.

    2. A.

     $ 5,000,000.00
    B.

     $ 5,010,000.00
    C.

     $ 5,025,000.00
    D.

     $ 5,050,000.00

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    Answer : Option A

    Explanation :

    Explanation Not Provided

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