Question 16 an Question 16 points Save an Of Company produces a total of 2.000 barrels of oil in June that is sold in July. The posted fleid price and the actual selling price is $66/bbl. The severance tax rate is 5. The purchaser of the oil will pay the severance tax to the state and also will pay the myalty interest owner. The riyalty interest is 1/ Required Prepare ne aming Of Company recognizes revenue 0 at time of sale and at time of production based on the posted fed price For the toolbar, press ALT-10 PALT