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Drilling Compary produces oil. It purchased land (and the underlying mineral rights) for $25,000,000. They value an oil deposit at $10,000,000. Engineers estimate that 1,000,000

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Drilling Compary produces oil. It purchased land (and the underlying mineral rights) for $25,000,000. They value an oil deposit at $10,000,000. Engineers estimate that 1,000,000 barrels of oil are recoverable. Given the following. determine DEF's depletion deduction for two years Fill in the blanks with your answers. (Copy and paste in the box provided, then fill in)

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