Question 21 0 out of 3.333 points On January 1, 2019. Plenty of Oil, Inc. purchased an oil field that is estimated to have 20,000,000 barrels of oil for $80,000,000. In 2019, 1,300,000 barrels of oil were extracted and sold. In 2020, 2.200.000 barrels of oil were extracted and sold. The oil field will have no residual value. What is the book value of the oil reserves that will be reported on the balance sheet as of December 31, 2020? Selected Answer: Answers: $80,000,000 $80,000,000 $14,000,000 $71,200,000 $66,000,000