Old Tucson Corporation (OTC) paid $200 million for the right to explore and extract rare metals from land owned by the state of Texas. To obtain the rights, OTC agreed to restore the land to a suitable condition for other uses after its exploration and extraction activities. OTC incurred exploration and development costs of $60 million on the project. OTC has a credit-adjusted risk free interest rate is 9%. It estimates the possible cash flows for restoring the land, three years after its extraction activities begin, as follows: (PV of $1. PVA of $1) (Use appropriate factor(s) from the tables provided.) Cash Outflow Probability $22 million 50% $66 million 50% The asset retirement obligation (rounded) that should be reported on OTC's balance sheet one year after the extraction activities begin is: (Round your intermediate and final answer to one decimal place.) Multiple Choice $371 million. Multiple Choice $371 million. $0. $40.7 million $34.0 million