13.11 Problem: Fuelco built a gas station with underground tanks and put them in service on January 1, 2016, at a cost of $500,000. The company estimates that the fuel tanks will have a useful life of 15 years and that the fair value of the costs to remove the fuel tanks 1will be $35,000 at the end of 15 years. Further, the company assumes a 10% discount rate and depreciates the fuel tanks using the straight-line method with no residual value. In the fteenth year. Fuelco closes the gas station. incurring environmental remediation costs of $1000. What is the amount of the ARC) that the company should recognize in the cun'ent year? What are the necessaryjoumal entries for 2016? What are the necessaryjoumal entries to remove the gas station from Fuelco's books