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QUESTION 12 (4 marks) i, a small Alberta oil company, holds huge reserves of oil and gas assets. At the end of 2016, Kent '

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QUESTION 12 (4 marks) i, a small Alberta oil company, holds huge reserves of oil and gas assets. At the end of 2016, Kent ' s cost of mineral assets totaled approximately $18 million, representing 2A million barrels of oil and gas reserves in the ground. In 2017 Kent Oil removed 0.8 million (i.e. 800,000) barrels of oil and sold all of these barrels during the year. REQUIRE output method? D: What is the carrying value of the mineral reserve at December 31, 2017 using the units

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