QUESTION 17 Jackpot Mining Company paid $1,200,000 in 2019 for a copper mine site and spent an additional $500,000 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 following three cash flow possibilities for the restoration costs: Cash Outflow Probability 1 $300,000 25% 2 400,000 45% 3 600,000 30% The credit-adjusted risk-free rate of interest is 10% Question Journal entries to record the acquisition costs of the mine would include: a debit to Copper Mine for $1,700,000 a debit to Copper Mine for $2,135,000 a debit to Copper Mine for $1,907,109 a debit to Copper Mine for $3,017,301