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25 Clark Oil and Gas incurred costs of $15.3 million for the rights to extract resources from a natural gas deposit. The company expects to
25 Clark Oil and Gas incurred costs of $15.3 million for the rights to extract resources from a natural gas deposit. The company expects to extract 8.5 million cubic feet of natural gas during a six-year period. Natural gas extracted during years 1 and 2 were 850,000 and 1,660,000 cubic feet, respectively. What was total depletion for year 1 and year 2, assuming the company uses the units-of- production method? $5.10 million. $2.99 million. $4.52 million. $4.50 million
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