QUESTION 19 A company purchased an oil well for $200,000. It estimates that the well contains 50,000 barrels, has a 10-year life, and no salvage value. If 6,000 barrels of oil is extracted and sold last year, how much depletion expense should be recorded? O A $16,000 O 8 $24,000 Oc$20,000 OD $100,000