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Information from a run ticket shows that 1,000 net barrels of oil with an API gravity of 35 degrees were sold. The selling price is
Information from a run ticket shows that 1,000 net barrels of oil with an API gravity of 35 degrees were sold. The selling price is based on a contract price of $66/bbl, adjusted downward 4 cents for each degree of gravity less than 40 degrees. The selling price for the 1,000 barrels is?
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SOLUTION To calculate the selling price for the 1000 barrels of oil we need to first determine the adjusted price per barrel based on the API gravity ...
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
10th edition
978-0077511388, 78034779, 9780077511340, 77511387, 9780078034770, 77511344, 978-0077861759
