Ayayai Mining Company recently purchased a quartz mine that it intends to work for the next $10$ years. According to state

environmental laws, Ayayai must restore the mine site to its original natural prairie state after it ceases mining operations at the site.

To properly account for the mine, Ayayai must estimate the fair value of this asset retirement obligation. This amount will be recorded

as a liability and added to the value of the mine on Ayayai's books.

There is no active market for retirement obligations such as these, but Ayayai has developed the following cash flow estimates based

on its prior experience in mining$-$site restoration. It will take $3$ years to restore the mine site when mining operations cease in $10$ years.

Each estimated cash outflow reflects an annual payment at the end of each year of the $3-$year restoration period.

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What is the estimated fair value of Ayayai's asset retirement obligation? Ayayai determines that the appropriate discount rate for this

estimation is $5\%.($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Estimated fair value of Ayayai's asset retirement obligation