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6 10 19 t of An oil company has paid the Irish Govt. 15m for oil exploration rights. If oil is found, the oil company

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6 10 19 t of An oil company has paid the Irish Govt. 15m for oil exploration rights. If oil is found, the oil company must pay 24 for every barrel produced. The oil company has spent 9m on drilling and has just struck oil. They estimate that they will recover 10m barrels of oil. Oil can be sold for 30 per barrel and will cost 3 a barrel to extract. The Irish Govt. has imposed an additional fee of 2 a barrel to pay for insurance against oil spills. What is the total relevant profit? Fin A. 10 millions B. 30 millions C. 3 millions D. 0

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