On April 1, 2024, Montana Mining Inc, purchased a mining site for $24,000,000. The estimated service life of the site is 27 years and because of the how it is used the residual value is only $1,124,000. The company records depreciation on its mining sites using the straight-line method. When the company is done using the site, it is legally required to restore the site at an estimated cost of $2,876,000. The appropriate discount rate for the company is 6.8%. Compute the amount of accretion expense recorded by Montana in 2024 (the first year)