An Oil company installs a crude oil processing plant costing $120 million with an estimated capacity to process 50 million barrels of crude oil during its entire life. The Production during the first year of operation is 2 million barrels. If the expected residual value of the processing plant is $2 million: A. Compute the depreciation per unit (barrel of oil)? B. Compute the Depreciation expense of the first year? C. Record the journal entry of this operation