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What was total depletion for year

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Question - Phillips Oil and Gas incurred costs of $18.9 million for the rights to extract resources from a natural gas deposit. The company expects to extract 9.0 million cubic feet of natural gas during a six-year period. Natural gas extracted during years 1 and 2 were 900,000 and 1,700,000 cubic feet, respectively. What was total depletion for year 1 and year 2, assuming the company uses the units-of-production method?

a. $5.46 million.

b. $9.00 million.

c. $3.57 million.

d. $6.30 million.

Reference no: EM133096315

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