Asset Retirement Obligation (ARO) Due to the type of business that your company is involved in, they often need to record an asset retirement obligation associated with the acquisition of long-lived assets. Create a model that will determine the amount the entity should record as an asset and a liability on the balance sheet at initial measurement. (Initial measurement is the present value of the future obligation... For your original data, use a future obligation of $1,500,000 with an annual interest rate of 6% and the obligation is due in 10 years. Your output area should include the initial measurement of the ARO. Your spreadsheet should also include a schedule which will include the annual interest expense (accretion expense), annual depreciation expense on the additional amount added to the asset for the asset retirement obligation, total annual expense for this transaction (impact on the Income Statement) and the ending balance in the asset retirement obligation. The model should be for a maximum of thirty years. You may also assume straight line depreciation with no salvage value. PLEASE USE ANY DATA AND DO IT IN EXCEL