8. a. Aggie Oil Company drills an exploratory well during 2006 that finds oil, but not in commercially producible quantities at current oil prices. Since proved reserves are not found, A ggie expenses the cost of the well in 2006 . Early in the next year, but after Aggie's financial statements have been published, the price of oil goes up so that the reserves found by the exploratory well during 2006 become commercially producible. Should the costs of the well be reinstated? b. Assume the same situation except that the price of oil goes up early that next year before Aggie's financial statements are published. Should the costs of the well be reinstated in this case