After 20 years of operations, Jenkins Oil still operates exclusively in the United ...

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Accounting

After 20 years of operations, Jenkins Oil still operates exclusively in the United
States. The following data are available as of 1231?2020 :
Unrecovered costs
Net salvage value of properties
$1,300,000
Estimated
200,000
Estimated future development costs for proved reserves ....400,000
Proved reserves, 1231
360,000bbl
Proved developed reserves, 1231
130,000bbl
Production
50,000bbl
REQUIRED: Compute DD&A assuming no exclusions from the amortization base.
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