4 (1 point) An oil company paid a landowner $30,000 for the mineral rights underlying his property. The well was drilled and equipped at a cost of $900,000. It is estimated that 300,000 barrels of oil will be produced from the property. How should this cost be treated in the accounting records? O The cost of the mineral rights should be capitalized and depleted over the estimated units of production. C The drilling equipment should be capitalized and depreciated over its estimated useful life O Both of the answers are correct. O None of the answers are correct