The cost of extraction depends on the amount remaining in the reservoir. The cost of extracting Yt units of oil in period 't' is Y2 C(Y. I 3,) =54 2 where St is the amount in the reservoir at the beginning of period 't'. The government of NWT will face an election no later than the end of 2020. The opposition party, which is gaining support, has promised to impose a tax on Wyoff's oil revenues. Consider a radically different set of beliefs acted upon by Wyoff's managers. In this case, the executives believe, as of January 2018, that the opposition party WILL be elected at the end of 2020 and that it WILL implement a tax on Wyoff's revenue of 0.25 per unit of oil extracted and sold. The tax is to be imposed as of January, 2021. This change in tax is perfectly foreseen by Wyoff's managers as of January, 2018. The entire ve-year extraction program (years 2018, 2019, 2020, 2021, and 2022) is planned on the assumption that the net-ofseverance-tax price will be $1 in each of 2018, 2019 and 2020 (no tax imposed) and the net price received by Wyoff will be $0.75 in each of 2021 and 2022. How much tax will the government of NWT collect from Wyoff's operations (sum of tax collected in years 2021 and 2022)? O 1) Tax collected at least $4 but less than $4.5 O 2) Tax collected at least $4.5 but less than $5 0 3) Tax collected at least $5 but less than $5.5 O 4) Tax collected less than $4 0 5) Tax collected at least $5.5