Fitzgerald Oil and Gas incurred costs of $7.91 million for the acquisition and development of...
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Fitzgerald Oil and Gas incurred costs of $7.91 million for the acquisition and development of a natural gas deposit. The company expects to extract 3.50 million cubic feet of natural gas during a four-year period. Natural gas extracted during years 1 and 2 were 750,000 and 850,000 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
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