Question 3: During the reporting period ending 30 June 2018, Midnight Boil Ltd constructed a nuclear power generator just outside of Melbourne. The cost of the power generator and associated technology amounted to $12 550 000. Other costs associated with the construction amounted to: 2 500 500 Costs incurred in obtaining access to the site Power perrits Engineers' fees 400 500 1 100 500 4001 500 The plant was ready to start generating power on 1 July 2018, with actual generation starting on 1 October 2018. At the end of the power plants useful life, which is expected to be 10 years, Midnight Boil Ltd is required by the government to dismande the plant, remove it, and retum the site to its original condition. After consulting its ownengineers and environmentalists, Midnight Boil Ltd estimates these costs to be $ Dismantling the plant 750 500 Environmental remediation costs 1 249 500 Replacement of flora and fauna 2 100 000 100 000 Midnight Boil Ltd uses a discount rate of 10 per cent Required Prepare the journal erties necessary to account for the power plant for the years ended 30 June 2018, 30 June 2019 and 30 June 2024. Ignore depreciation 2