On January 1, 2011, Gold Corp. purchased the rights to operate a gold mine. The company paid $10 million for the mining rights and $5 million for exploration and development costs. The company will operate the mine for one year and must restore the land to its original condition after extraction is completed. The future restoration costs are estimated to be $500,500. The mine was initially capitalized for $15,455,000. Assuming Gold Corp's fiscal year-end is on December 31, 2011, what is the 2011 accretion expense relating to this transaction? O a. $45,500 o b. $500,500 O c. $455,000 O d. $15,455,000 O e. None of the above is correct