Use the information for the question(s) below.
| Alaska North Slope Crude Oil (ANS) | $71.75/Bbl |
| West Texas Intermediate Crude Oil (WTI) | $73.06/Bbl |
As an oil refiner, you are able to produce $76 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil. Because of its lower sulfur content, you can produce $77 worth of unleaded gasoline from one barrel of West Texas Intermediate (WTI) crude.
Assuming you just purchased 10,000 Bbls of WTI crude at the current market price, the total benefit (cost) to you if you were to refine this crude oil and sell the unleaded gasoline is closest to:
◦ $730,600
◦ $770,000
◦ $771,400
◦ $773,908
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