1. An entity has to rectify a serious fault in an item of plant that it has constructed for a customer. The individual most likely outcome is that the repair will succeed at the first attempt at a cost of $300,000, but there is a chance that a further attempt will be necessary, increasing the total cost to $500,000. What amount of provision should be recognised? (: 1) O 500 000 $ 300 000 $ O 400 000 $