0 steve 1/2 yuumit Remaining 5 points Calegari Mining paid $2 million to obtain the rights to operate a coal mine in Tennessee. Costs of exploring for the coal deposit totaled $1,500,000 and development costs of $5 million were incurred in preparing the mine for extraction, which began on January 2, 2011. After the coal is extracted in approximately five years, Calegari is obligated to restore the land to its original condition. The company's controller has provided the following three cash flow possibilities for the restoration costs: Cash Flow Probability 1. $1,000,000 10% 1,400,000 60% 3 1,800,000 30% 2. - The company's rate of interest is 7%, and its fiscal year ends on December 31. Prepare the journal entry to record the acquisition of the coal mine (include all costs to get it ready for use). All costs were paid in cash. BE