cole Petroieum has spent $205,000 to refine 60,000 gallons of petroleum distillate, which can be sold for $6.10 per gallon. Alternatively, Cole can process the distillate further and produce 56,000 gallons of cleaner fluid. The additional processi will cost $1.70 per gallon of distillate. The cleaner fluid can be sold for $9.10 per gallon. To sell cleaner fluid, Cole must pay a sales commission of $0.12 per gallon and a transportation charge of $0.20 per gallon. Read the requirements. Requirement 2 . Identify the sunk cost. Is the sunk cost relevant to Cole's decision? The is a sunk cost that difler between the alternatives of selling as is or processing further Consequently, this sunk cost is to the sell-or-process-further decision. Requirement 3. Shouid Cole sell the petroleum distillate or process it into cleaner fluid? Show the expected net revenue difference between the two alternatives. (For the difterence in total net revenue, use a parentheses or a minus sign if processing further will decrease total net revenue.)