(1 point) An oil company discovered an oil reserve of 200 million barrels. For time t > 0), in years, the company's extr

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1 Point An Oil Company Discovered An Oil Reserve Of 200 Million Barrels For Time T 0 In Years The Company S Extr 1 (28.29 KiB) Viewed 29 times

(1 point) An oil company discovered an oil reserve of 200 million barrels. For time t > 0), in years, the company's extraction plan is a linear declining function of time as follows: q(t) = a-bt, where g(t) is the rate of extraction of oil in millions of barrels per year at time t and b = 0.15 and a = 14. (a) How long does it take to exhaust the entire reserve? time = years (b) The oil price is a constant 50 dollars per barrel, the extraction cost per barrel is a constant 18 dollars, and the market interest rate is 11 percent per year, compounded continuously. What is the present value of the company's profit? value= millions of dollars