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At the end of Year One, a government estimates that the current cost of closing its landfill will eventually be $9 million. Currently, the landfill
At the end of Year One, a government estimates that the current cost of closing its landfill will eventually be $9 million. Currently, the landfill is 20 percent filled. By the end of Year Two, the estimated current cost of closing the landfill has risen to $10 million. This amount will be paid in 8 years. The landfill is now 30 percent filled. The landfill is reported as an enterprise fund. What liability is reported on fund financial statements at the end of Year Two?\ \ Multiple choice question.\ \ Zero
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