Assume that on January 1, 2010, BP PLC invested $3.5 billion for oil rights at a new drilling site in the Indian Ocean. The oil site is estimated to contain 12 billion barrels of oil. Additionally, the company invested $225 million for a marine-based oil rig for this same drilling operation. This oil rig has a useful life of 30 years and no residual value. Actual drilling operations at this marine-based location begin in March 2011, with 750 million barrels retrieved in 2011, followed by 675 mil

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2011 depletion 350000000075000000012000000000 218750000 using the total estimated units of productio... View the full answer