ork? and Jackpot Mining Company operates a copper mine in central Montana. The company paid $1150000 in 2018 for the mining site 000 to prepare the mine for extraction of the copper. After the copper is extracted in approximately 4 years, cing a greenbelt. The the company is required to restore the land to its original condition, including repaving of roads and repla company has provided the following three cash flow possibilities for the restoration c costs: (FV of $1, PV of $1, FVA of $1, PVA of $ FVAD of $1 and PVAD of St (Use appropriate factor(s) from the tables provided.) Cash Outflow Probability 1 $330,000 2 25% 40% 35% 430,808 3 63e, e90 To aid extraction, Jackpot purchased some new equipment on July 1. 2018, for $150,000. After the copper is re the equipment will be sold The credit-adjusted, risk-free rate of interest is 10% Required 1. 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