On March 1, 2024, a company entered into an agreement with the state to obtain the rights to operate a mineral mine for $6 million. The mine is expected to produce 135,000 tons of mineral. As part of the agreement, the company agrees to restore the land to its original condition after mining operations are completed in approximately five years. Management has provided the following possible outflows for the restoration costs that will occur five years from now: (PV of $1, PVA of $1) Cash Outflow Probability $ 440,000 20% 575,000 30% 710,000 50% The company's credit-adjusted risk-free interest rate is 9%. During 2024, the company extracted 24,300 tons of ore from the mine. How much accretion expense will the company record in its income statement for the 2024 calendar year