imagine that you are the CEO of Slick Drilling Inc. and you must decide whether or not to drill for crude oil around the Twin Lakes area in Michigan. You are relatively certain there are 10,000 barrels of crude oil at this location. An accountant working for you prepared the information in Table 1-2 to help you decide whether or not to adopt the new project.

As the CEO of Slick Drilling Inc. You must decide whether or not to drill for crude oil around the Twin lakes are in Michigan. You are relatively certain there are 10,000 barrels of crude oil at this location. An accountant working for you prepared the table below to help you decide whether or not to adopt the new project. Decide on the project using the concept of incremental decision.(Figures in \$) \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ NEW DRILLING PROJECT } \\ \hline & & CL...,... & afterii: v \\ \hline & & S.tud-O.. & D-luling P;oject \\ \hline \multicolumn{2}{|l|}{ Total Revenue } & 1,740,400 & 1,93,600 \\ \hline \multicolumn{4}{|l|}{ Variable cost } \\ \hline & Drill augers & 750,000 & 40,000 \\ \hline & Temporar f worker- & 500,000 & 575,000 \\ \hline & Total : ariable Cost & 1,250,000 & 1,415,000 \\ \hline \multicolumn{4}{|c|}{ Direct Fies Cost } \\ \hline & De,re iaion-equipment & 120,000 & 120,000 \\ \hline & Total Direc Fi e c Cost & 120,000 & 120,000 \\ \hline \multicolumn{4}{|c|}{.ndire.t Fixed Cost } \\ \hline & Supervisor's Salar ies & 240,000 & 240,000 \\ \hline & uffice Supplies & 30,000 & 0,000 \\ \hline & Total Indirect Fixed Cost & 270,000 & 270,000 \\ \hline Profit & & 100,400 & 11b,600 \\ \hline \end{tabular}