An oil company is drilling a series of new wells on the perimeter of a producing oil field. About 26% of the new wells will be dry holes. Even if a new well strikes oil, there is still uncertainty about the amount of oil produced: 40% of new wells that strike oil produce only 1,600 barrels a day; 60% produce 5,600 barrels per day. a. Forecast the annual cash revenues from a new perimeter well. Use a future oll price of $95 per barrel. (Assume 365 days in a year. Do not round intermediate calculations.)