ork 7 6 Jackpot Mining Company operates a copper mine In central Montana. The compeny paid $1300.o00 in 2018 for the mining site and spent an additional $620,000 to prepare the mine for extraction of the copper After the copper is extracted In approximately 4 years the company is required to restore the land to its original condition, including repaving of roads and replacing a greenbelt. The company has provided the lollowing three cash flow possib ties for the restoration costs: evorevorst. EVAofSL P Aots EVADof and PVADors) (Use appropriate fact orts) fon the tables provided. $320,000 420,000 620.000 201 45% 358 3 To aid extrection, Jackpot purchased the equipment will be sold. The credit-adjusted, risk some new equipment on July 1, 2018, for $140.000 After the copper is removed from this mine. ee rate of interest is 12% Required: Determine the cost of the copper mine. 2. Prepare the journal entries to record the acquisition costs of the mine and the purchase of equipment Complete this question by entering your answers in the tabs below. Required 1Required 2 Determine the cost of the copper mine, (Do not round intermediate calculations Round your answer to the nearest whole dollar) Required 2