Entity A is a listed company. It is a local production company that produces different types of chemical products for different customers. To prepare for the company development, Entity A planned to acquire additional plants in the year 2020.

On 1 July 2020, Entity A purchased a chemical plant. The plant was due to be active for five years until 30 June 2025, when it would be decommissioned. The costs of decommissioning the plant were estimated to be $9,888,000 in 5 years time. Entity A considers that a discount rate of 8.53% is appropriate for the calculation of a present value.

REQUIRED:

Measure the expenses charged to the Statement of Profit or Loss in respect of the costs of decommissioning for the year ended 30 Jun 2024.