Blanco Oil Company entered into an agreement with the government of Angola covering a 20,000-acre offshore block. The contract stipulated that Blanco Oil Company must relinquish 20% of the acreage at the end of three years. Blanco has a balance of $8,000,000 in the unproved property account and treats the property as being individually significant. At the end of the third year, Blanco surrendered 5,000 acres and continued to evaluate the remaining 15,000 acres. The account ______________ should be debited for $_____________.

		Surrendered Lease Expense $2,000,000
		Surrendered Lease Expense $1,600,000
		Unproved Property $2,000,000
		Unproved Property $1,600,000
		Some other answer.