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Clark Oil and Gas incurred costs of $19.8 million for the rights to extract resources from a natural gas deposit. The company expects to extract
Clark Oil and Gas incurred costs of $19.8 million for the rights to extract resources from a natural gas deposit. The company expects to extract 9.0 million cubic feet of natural gas during a six-year period. Natural gas extracted during years 1 and 2 were 990,000 and 1,710,000 cubic feet, respectively. What was total depletion for year 1 and year 2, assuming the company uses the units-of-production method?
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