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Consider another deposit, on which Coquille Oil has a lease with two years to run (2020 and 2021). There are exactly 100 units available at

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Consider another deposit, on which Coquille Oil has a lease with two years to run (2020 and 2021). There are exactly 100 units available at the beginning of 2020. The extraction costs are exactly as yl (:02: | 3;) = 4 those faced by Wyoff in questions 4-8: 5: Coquille is a small firm, and its decision-makers consider the world price of oil to be outside the control of the firm. If the price of oil is expected to remain at $1 in both 2020 and 2021, and if the relevant interest rate is 5%, how much will Coquille wish to extract in 2020? (Most of the work to answer this has already been done as part of the computations for question 4.) O 1) At least 30 units but fewer than 35 units 0 2) Fewer than 25 units 0 3) At least 35 units but fewer than 40 units 0 4) At least 40 units @ 5) At least 25 units but fewer than 30 units

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