Certified Industrial Engineer (CIE) Examination

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With an initial investment of $50,000,000, the Saudi Arabian Oil Refinery drilled an oil well that is thought to hold 5,000,000 barrels of oil. What is the depletion fee for the year when 500,000 barrels of oil are produced? When calculating depletion, use the unit or factor technique.

$$5,050,000.00 $$5,025,000.00 $$5,010,000.00 $$5,000,000.00

Correct Answer:

$$5,000,000.00

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