blue company purchases an oil tanker depot on January $12025,$ at a cost of $550900.$ Blue expects to operate the depot for $10$ years at which time it is legally required to dismantle the depot and remove the underground storage tanks. The company expects the dismantle and removal will cost $72480$ at the end of the depots useful life. On December $312034,$ blue pays a demolition firm to dismantle the depot and remove the tanks at a price of $77630.$ Prepare the journal entry for the settlement of the asset retirement obligation.