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A company purchased an oil well for S barrels, has an eight-year life, and no salvage value. If the company extracts and sells 7,000 barrel

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A company purchased an oil well for S barrels, has an eight-year life, and no salvage value. If the company extracts and sells 7,000 barrel A. $27,000 B. $135,000 C. $33,750 s of oil in the first year, how much depletion expense should be recorded? D. $21,000

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