Brander Fuel purchased an oil well for $350,000. The well is estimated to contain 70,000 barrels, have an four-year life, and have no residual value. If the company extracts and sells 2,600 barrels of oil in the first year, how much in cost of sales should be recorded? O A. $175,000 O B. $13,000 OC. $437,500 OD. $87,500