Which of the following best explains how the variables included in SMOG would differ in the evaluation of a potential project? Prices for project evaluation would be based on future price estimates versus past prices used for SMOG, The discount rate is likely to be the same for SMOG and project evaluation, since rates are standard. Cost for project evaluation would be based on past cost instead of future costs like SMOG. Reserves volumes would be more likely to include probable and possible reserves, multiplied by a risk factor, for SMOG than for project evaluation. O o How is the discount rate used for SMOG determined? The company's average interest rate on debt The company's risk free rate, plus a risk premium The company's risk free rate A standard 10% for all companies Which of the following is a subcategory of proved developed reserves? Proved undeveloped (PUD) Proved developed soon to produce (PDSP) Proved undeveloped producing (PUDP) Proved developed non-producing (PDNP) Which of the following describes the oil and natural gas price used for SMOG? December average price Last 12-months' first day average price Future price Year-end price