Fitzgerald Oil and Gas incurred costs of $5.75 million for the acquisition and development of a...

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Fitzgerald Oil and Gas incurred costs of $5.75 million for the acquisition and development of a natural gas deposit. The company expects to extract 2.30 million cubic feet of natural gas during a four-year period. Natural gas extracted during years 1 and 2 were 890,000 and 990,000 cubic feet, respectively. What was the depletion for year 1 and year 2? Note: Do not round your intermediate calculation. Enter your answers in whole dollars, and not in millions. Year 1 depletion Year 2 depletion Fitzgerald Oil and Gas incurred costs of $5.75 million for the acquisition and development of a natural gas deposit. The company expects to extract 2.30 million cubic feet of natural gas during a four-year period. Natural gas extracted during years 1 and 2 were 890,000 and 990,000 cubic feet, respectively. What was the depletion for year 1 and year 2? Note: Do not round your intermediate calculation. Enter your answers in whole dollars, and not in millions. Year 1 depletion Year 2 depletion

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Cost of acquisition and development 5750000 Total exp... View the full answer