On January 1, 2019. Plenty of Oil, Inc purchased an oil field that is estimated to have 10,000,000 barrels of oil for $60,000,000. In 2019 1,800,000 barrels of oil were extracted and sold. In 2020, 2,000,000 barrels of oil were extracted and sold. The oll field will have no residual value. What is the book value of the oil reserves that will be reported on the balance sheet as of December 31, 2020? O A. $60,000,000 OB. $22,800,000 OC. $37,200,000 D. $48,000,000