Clark Oil and Gas incurred costs of $20.5 million for the rights to extract resources from a natural gas deposit. The company expects to extract 8.2 million cubic feet of natural gas during a six-year period. Natural gas extracted during years 1 and 2 were 820,000 and 1,620,000 cubic feet, respectively. What was total depletion for year 1 and year 2, assuming the company uses the units-of-production method?

Multiple Choice

• $6.83 million.

• $4.05 million.

• $8.20 million.

• $6.10 million.