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Beta Corporation has two divisions, Refining and Extraction. The company's primary product is Lucky Oil. Each division's costs are provided below: Extraction: Variable costs per

Beta Corporation has two divisions, Refining and Extraction. The company's primary product is Lucky Oil. Each division's costs are provided below:

Extraction: Variable costs per barrel of oil $13
Fixed costs per barrel of oil $6
Refining: Variable costs per barrel of oil $26
Fixed costs per barrel of oil $36

The Refining Division has been operating at a capacity of 40,800 barrels a day and usually purchases 25,600 barrels of oil from the Extraction Division and 15,100 barrels from other suppliers at $62 per barrel.

What is the transfer price per barrel from the Extraction Division to the Refining Division, assuming the method used to place a value on each barrel of oil is 110% of full costs?

Group of answer choices

$19.00

$20.90

$55.00

$99.00

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