On May 15, 2019 Boise Inc. (BMS) paid 320m cash for a thallium smelter. The company engineers estimated that the facility would have a 16 year service life and that its retirement in accordance with then-current Idaho environmental regulations would cost 80m. The risk free rate was 2.8% and BMS, a BB- credit, expects a 550 bps credit spread to rF.

On March 1, 2025 BMS sold the smelter for 190m. The buyer paid cash and assumed the ARO.

QUESTION: Book the 2025 03 01 transfer journal entry. Assume that BMS accountants depreciate the smelter SLN with zero salvage, that discounting was calculated on a continuously compounded basis and that the ARO assumptions hd not changed.