A company purchased an oil well for $$10$ million. It is estimated that $5$ million barrels can be extracted from the well. Determine depletion expense assuming $4$ million barrels are extracted and sold during the year.

a$.$ $$8,000,000$

b$.$ $$12,500,000$

c$.$ $$8,750,000$

d$.$ $$1,250,000$