On January 1, 2021, Power Company paid $5,000,000 for land to create a landfill for disposal of fossil fuel debris. In addition, the company paid $1,000,000 to excavate and line the site. is required by state and federal regulations to cap, close, and monitor the landfill upon closure. The company has provided the following three cash flow possibilities (A, B and C) for the cap and closure costs to be paid in ten years, when closure is expected: Cash Outflow A $900,000 B 1,000,000 C 1,100,000 The company's credit-adjusted risk-free interest rate is 4%. Probability 30% 50% 20% Required: A. At what amount will record the asset retirement obligation on January 1, 2021? ARO = B. If assumes its landfill assets deplete on a straight-line basis and uses the effective- interest method to amortize its asset retirement obligation, what journal entry or entries would the company record at 12/31/21 related to the landfill?