QUESTION 15 Raghad Energy acquired a 1,000-acre lease at $50 per acres. Raghad paid $50,000 for G&G cost, $20,000 for title exams. However due to a decline in oil prices Raghad decided not to drill on the area during the first year and paid a delay rental of $10,000 and property taxes of $10,000. How much is the total nondrilling exploration cost to be recorded by Raghad Company O A $70.000 8. $120,000 C. $90,000 O D.5140.000