Question: CNA Enterprises purchases an oil field and expects it to
CNA Enterprises purchases an oil field and expects it to produce 1,000,000 barrels of oil. The oil field, acquired in January 2008, cost CNA $1.5 million. In 2008, the oil field produced 280,000 barrels. In 2009, the oil field produced 350,000 barrels. What is the depletion for each of these years?
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