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Refer to the situation described in BE 104. What is the book value of the asset retirement liability at the end of one year? Assuming

Refer to the situation described in BE 104. What is the book value of the asset retirement liability at the end of one year? Assuming that the actual restoration costs incurred after extraction is completed are $596,000, what amount of gain or loss will Smithson recognize on retirement of the liability? "Prepare it PLZ"

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