Crane Oil Company acquired property rights to search for natural resources on land that it is convinced has oil reserves, for $$15,415,170.$ The contract requires that Crane restore the property to a status usable for a park after drilling and extraction are complete. The estimated cost of this restoration is $$2,360,000.$ Crane incurs exploration costs of $$1,317,000$ and intangible development costs of $$1,531,000.$ Geological surveys suggest that approximately $1,119,000$ barrels of oil can be extracted from the site. In $2025,$ Crane extracts $238,000$ barrels of oil.

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What is the depletion base for this location for Crane Oil?

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