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Question 1 [6 points] Assume that the current equilibrium price for a barrel of oil is $26 and the interest rate is 7.00 percent. Round

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Question 1 [6 points] Assume that the current equilibrium price for a barrel of oil is $26 and the interest rate is 7.00 percent. Round answers to the nearest whole number. a) What does the price of oil need to be in 4 years to justify extracting it now? The oil should be extracted if. in 4 years, its price of oil in 4 years will be more than this gure? is less than is equal to SUBMIT AND MARK

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