Check my work mode: This shows what is corre An oil company is drilling a series of new wells on the perimeter of a producing oil field. About 11% of the new weils 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 2,800 barrels a day, 60% produce 6,800 barrels per day a. Forecast the annual cash revenues from a new perimeter well. Use a future oil price of $91 per barrel. (Assume 389 days in a year Do not reund Intermediate calculations.) Answer is complete but not entirely correct. Expected annual cash revenues s 16.612 555 Type here to search