An oil and gas exploration firm invested $2,000,000 in drilling for natural gas in a nev gas field. The firm's geologist believes the field has the potential to produce gas for many years. The revenue resulting from the gas well the first year after drilling is $600,000; based on previous experiences with similar types of wells, it is expected the annual revenue will decrease at an annual rate of 3%. Likewise, the costs of operating the well the first year totals $100,000; costs are expected to increase at an annual rate of 7%. If the firm's MARR is 17%, how long will it take for the firm to recover its investment? Hint: Using Excel's Goal Seek or SOLVER tool leave cell for the number of years required to recover the investment empty. Click here to access the TVM Factor Table calculator. n = L: %3D years

An oil and gas exploration firm invested $2,000,000 in drilling for natural gas in a nev gas field. The firm's geologist believes the field has the potential to produce gas for many years. The revenue resulting from the gas well the first year after drilling is $600,000; based on previous experiences with similar types of wells, it is expected the annual revenue will decrease at an annual rate of 3%. Likewise, the costs of operating the well the first year totals $100,000; costs are expected to increase at an annual rate of 7%. If the firm's MARR is 17%, how long will it take for the firm to recover its investment? Hint: Using Excel's Goal Seek or SOLVER tool leave cell for the number of years required to recover the investment empty. Click here to access the TVM Factor Table calculator. n = L: %3D years

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Question

An oil and gas exploration firm invested
$2,000,000 in drilling for natural gas in a new
gas field. The firm's geologist believes the
field has the potential to produce gas for
many years. The revenue resulting from the
gas well the first year after drilling is
$600,000; based on previous experiences
with similar types of wells, it is expected the
annual revenue will decrease at an annual
rate of 3%. Likewise, the costs of operating
the well the first year totals $100,000; costs
are expected to increase at an annual rate of
7%. If the firm's MARR is 17%, how long will it
take for the firm to recover its investment?
Hint: Using Excel's Goal Seek or SOLVER tool
leave cell for the number of years required to
recover the investment empty. Click here to
access the TVM Factor Table calculator. n = L1
years

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