On June 15, 2020 Boise Mechanical Systems, Inc. (BMS) paid $ 230 m cash for a Thallium smelter. The company engineers estimated that the facility would have a sixteen-year service life and that its retirement in accordance with then-current Idaho environmental regulations would cost $60 m. The risk-free rate was 2.4% and BMS, a BB- credit, expects a 470 bps credit spread to rF. On March 1, 2026 BMS sold the smelter for $120 m. The buyer paid cash and assumed the ARO. Required: Book the 2026 03 01 transfer. Assume that BMS accountants depreciated the smelter SLN with zero salvage, that discounting was calculated on a continuously compounded basis and that the ARO assumptions had not changed.