7 3 pts During the year Big Fish Co acquired the fishing rights in an area near Brighton at a cost of 100,000. In addition, when this fishing right expires in 5 years' time, the company will incur an estimated environmental protection cost for cleaning the fishing area, which has a present value of 50,000. This cost would still have to be incurred even if no further fishing will take place in this area. How should this 50,000 future cost be recognised in the financial statements? Provision 50,000 and 50,000 charged to operating costs. Accrual 50,000 per annum for next 5 years. Provision 50,000 and 50,000 capitalised as part of the cost of the fishing rights. Should not be recognised as no cost has yet arisen