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7. In accounting for Assets Retirement Obligation (ARO), a. We record depreciation expense and interest expense. Explain how these expenses are derived. (4pts) b. How

7. In accounting for Assets Retirement Obligation (ARO),

a. We record depreciation expense and interest expense. Explain how these expenses are derived. (4pts)

b. How do we calculate the gains or loss on settlement of ARO (3pts)?

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