Homespun Resources Ltd was incorporated in 20X2 and is a mining operation in northern Alberta. The company is required by the terms of provincial legislation to remediate mine sites when mining is completed. The following events and decisions with respect to operations relate to Homespun's decommissioning obligations: (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) January 20X2 Commenced mining on Site 1; expected duration of operations is three years, and site remediation is expected to be $508,000 at that time. Decommissioning obligation is recorded. A reasonable interest rate is 7%. 30 September 20X2 Commenced mining on Site 2; expected duration of operations is five years, and site remediation is expected to be $1,280,000 at that time. Decommissioning obligation is recorded. A reasonable interest rate is 7%. 31 December 20X2 Interest on decommissioning obligation for Site 1 and Site 2 is recorded. 30 September 20X3 Interest on decommissioning obligation for Site 2 is recorded, on the anniversary date of the mine opening. 31 December 20X3 Interest on decommissioning obligation for Site 1 and Site 2 is recorded. Site 1 is now estimated to close in two years' time (rather than the one