C Jackpot Mining Company operates a copper mine in central Montana. The company paid $1,450,000 in 2021 for the mining site and spent an additional $690,000 to prepare the mine for extraction of the copper. After the copper is extracted in approximately four years, the company is required to restore the land to its original condition, including repaving of roads and replacing a greenbelt. The company has provided the following three cash flow possibilities for the restoration costs: (EV of $1. PV of $1. EVA of $1. PVA of $1 EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 5 Cash Outflow $390,eee 490,000 690,000 Probability 1 25% eBook 2 45 % 3 30% Hint Print To aid extraction, Jackpot purchased some new equipment on July 1, 2021, for $210,000. After the copper is removed from this mine, the equipment will be sold. The credit-adjusted, risk-free rate of interest is 12 %. eferences Required: 1. Determine the cost of the copper mine. 2. Prepare the journal entries to record the acquisition costs of the mine and the purchase of equipment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the cost of the copper mine. (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) Cost of copper mine Riqured Required 2 Course Home table 2.png (1256x1062) Chapter 10 Homework -11918.202010 x table 2.png (1256x10 X com/Media/Connect_Production/bne/accounting/spiceland int 10e/table 2.png TABLE 2 Present Value of $1 $1 PV (1+0 ni 1.0% 1.5% 2.0% 2.5% 3.0% 7.0% 3.5% 4.5% 6.0% 9.0% 10.0% 4.0% 5.0% 5.5% 8.0% I1.0% 12.0% 20.0% 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 096154 095694 0 95238 0.94787 0.94340 0.93458 0 92593 1 0.91743 0.90909 0.90090 089286 083333 2 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.87344 085734 0.84168 0.32645 0.81162 079719 0.69444 0.92456 091573 0.90703 0 89845 0.89000 3 0.97059 0.95632 0.94232 092860 0.91514 0.88900 087630 0.79383 077218 0.75131 0.73119 0.71178 057870 0 86384 0.85161 083962 0.81630 090194 4 096098 0.94218 0.92385 0.82270 0.80722 0 79209 0.76290 0.73503 0.70843 0.68301 065873 0.63552 048225 0.90595 0.88849 0 83856 087144 085480 5 0.95147 0.92826 0.90573 088385 0 80245 078353 0.76513 074726 0.71299 68058 0.64993 0.62092 0.59345 0.56743 040138 0.84197 082193 0.86261 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 0.66634 7 093272 0 90103 087056 0.84127 081309 0.78599 0.75992 0.73483 0.71068 0.68744 0.66506 062275 0.58349 054703 051316 0.48166 045235 0.27908 8 092348 0.88771 085349 082075 0.78941 0.54027 050187 0.46651043393 040388 0.23257 0.75941 0.73069 0.70319 067684 0.65160 062741 0.58201 9 091434 087459 083676 080073 0.76642 073373 0.70259 067290 0.64461 0.61763 0.59190 054393 0.50025 0.46043 042410 0.39092 0.36061 0.19381 0.58543 055839 050835 0.46319 042241 0.38554 035218 0.32197 016151 10 090529 0.86167 082035 0.78120 0.74409 070892 0.67556 064393 061391 1l 0.89632 0.84893 0.80426 0.76214 0.72242 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.13459 0.58468 0.55491 0.68495 0.64958 0.61620 12 0.88745 083639 0.78849 0.74356 0.70138 066178 0.62460 0.58966 0.55684 0.52598 0.49697 044401 0.39711 0.35553 0.31863 0.28584 0.25668 0.11216 13 0.87866 0.82403 0.77303 072542 0.68095 063940 0 60057 0.56427 053032 0.49856 0.46884 041496 036770 0.32618 0.28966 0.25751 0.22917 0.09340 14 0.86996 0.81185 0.75788 0.70773 0.66112 061778 057748 053997 0.50507 047257 0 44230 0.38782 0.34046 029925 0.26333 0.23199 020462 0.07789 0 18270 006491 0.20900 O.22030 X C Jackpot Mining Company operates a copper mine in central Montana. The company paid $1,450,000 in 2021 for the mining site and spent an additional $690,000 to prepare the mine for extraction of the copper. After the copper is extracted in approximately four years, the company is required to restore the land to its original condition, including repaving of roads and replacing a greenbelt. The company has provided the following three cash flow possibilities for the restoration costs: (EV of $1. PV of $1. EVA of $1. PVA of $1 EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 5 Cash Outflow $390,eee 490,000 690,000 Probability 1 25% eBook 2 45 % 3 30% Hint Print To aid extraction, Jackpot purchased some new equipment on July 1, 2021, for $210,000. After the copper is removed from this mine, the equipment will be sold. The credit-adjusted, risk-free rate of interest is 12 %. eferences Required: 1. Determine the cost of the copper mine. 2. Prepare the journal entries to record the acquisition costs of the mine and the purchase of equipment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the cost of the copper mine. (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) Cost of copper mine Riqured Required 2 Course Home table 2.png (1256x1062) Chapter 10 Homework -11918.202010 x table 2.png (1256x10 X com/Media/Connect_Production/bne/accounting/spiceland int 10e/table 2.png TABLE 2 Present Value of $1 $1 PV (1+0 ni 1.0% 1.5% 2.0% 2.5% 3.0% 7.0% 3.5% 4.5% 6.0% 9.0% 10.0% 4.0% 5.0% 5.5% 8.0% I1.0% 12.0% 20.0% 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 096154 095694 0 95238 0.94787 0.94340 0.93458 0 92593 1 0.91743 0.90909 0.90090 089286 083333 2 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.87344 085734 0.84168 0.32645 0.81162 079719 0.69444 0.92456 091573 0.90703 0 89845 0.89000 3 0.97059 0.95632 0.94232 092860 0.91514 0.88900 087630 0.79383 077218 0.75131 0.73119 0.71178 057870 0 86384 0.85161 083962 0.81630 090194 4 096098 0.94218 0.92385 0.82270 0.80722 0 79209 0.76290 0.73503 0.70843 0.68301 065873 0.63552 048225 0.90595 0.88849 0 83856 087144 085480 5 0.95147 0.92826 0.90573 088385 0 80245 078353 0.76513 074726 0.71299 68058 0.64993 0.62092 0.59345 0.56743 040138 0.84197 082193 0.86261 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 0.66634 7 093272 0 90103 087056 0.84127 081309 0.78599 0.75992 0.73483 0.71068 0.68744 0.66506 062275 0.58349 054703 051316 0.48166 045235 0.27908 8 092348 0.88771 085349 082075 0.78941 0.54027 050187 0.46651043393 040388 0.23257 0.75941 0.73069 0.70319 067684 0.65160 062741 0.58201 9 091434 087459 083676 080073 0.76642 073373 0.70259 067290 0.64461 0.61763 0.59190 054393 0.50025 0.46043 042410 0.39092 0.36061 0.19381 0.58543 055839 050835 0.46319 042241 0.38554 035218 0.32197 016151 10 090529 0.86167 082035 0.78120 0.74409 070892 0.67556 064393 061391 1l 0.89632 0.84893 0.80426 0.76214 0.72242 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.13459 0.58468 0.55491 0.68495 0.64958 0.61620 12 0.88745 083639 0.78849 0.74356 0.70138 066178 0.62460 0.58966 0.55684 0.52598 0.49697 044401 0.39711 0.35553 0.31863 0.28584 0.25668 0.11216 13 0.87866 0.82403 0.77303 072542 0.68095 063940 0 60057 0.56427 053032 0.49856 0.46884 041496 036770 0.32618 0.28966 0.25751 0.22917 0.09340 14 0.86996 0.81185 0.75788 0.70773 0.66112 061778 057748 053997 0.50507 047257 0 44230 0.38782 0.34046 029925 0.26333 0.23199 020462 0.07789 0 18270 006491 0.20900 O.22030 X