Engineering Economics
The Saudi Arabian Oil Refinery developed an oil well which is estimated to contain 5,000,000 barrels of oil at an initial cost of $ 50,000,000. What is the depletion charge during the year where it produces half million barrels of oil? Use Unit or Factor method in computing depletion.

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

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Engineering Economics
A construction estimate is used

To decide an approximation of the value of the project and not the exact cost
To judge tentatively or approximate value of the project
None of these
To produce a statement of the approximate cost

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