Pete’s Petroleum, Inc., an SEC registrant with a calendar year-end, is in the business of constructing and operating offs] lore oil platforms. Pete’s Petroleum is required legally to dismantle and remove the platforms at the end of their useful lives, which is estimated to be 10 years. On January 1, 2019, Pete constructed and began operating an offshore oil platform off the coast of Brazil. The total capitalized cost to construct the platform was $3,700,000. In addition, while the future cost of dismantling the oil platform is difficult to estimate, Pete believes there is a 40% chance that the future cost will be $1,425,000, a 40% chance it will be $1,650,000, and a 20% chance that it will cost $2,125,000. The appropriate discount rate is 12%, and Pete uses the straight-line method of depreciation.
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Financial Accounting
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College Accounting, Chapters 1-27
Financial And Managerial Accounting
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Financial & Managerial Accounting
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ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
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Management, Loose-Leaf Version
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Fundamentals of Financial Management (MindTap Course List)
Principles of Economics (MindTap Course List)
Contemporary Marketing
Accounting Information Systems
Financial & Managerial Accounting
College Accounting (Book Only): A Career Approach
Accounting (Text Only)
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Statistics for Business & Economics, Revised (MindTap Course List)
Exploring Economics
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting (Book Only): A Career Approach
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Pkg Acc Infor Systems MS VISIO CD
Principles of Macroeconomics (MindTap Course List)
Survey of Accounting (Accounting I)
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Purchasing and Supply Chain Management
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