Requlred Information Research Case 10-2 (Static) FASB codification; locate and extract relevant information and cite authoritative support for a financial reporting issue; restoration costs; asset retirement obligation [LO10-1] Your client, Hazelton Mining, recently entered into an agreement to obtain the rights to operate a copper mine in West Virginia for $15 million. Hazelton incurred development costs of $6 million in preparing the mine for extraction, which began on July 1, 2024. The contract requires Hazelton to restore the land and surrounding area to its original condition after extraction is complete in three years. The company controller, Alice Cushing, is not sure how to account for the restoration costs and has asked your advice. Alice is aware of an accounting standard addressing this issue, but is not sure of its provisions. She has narrowed down the possible cash outflows for the restoration costs to four possibilities. Alice also informs you that the company"s credit-adjusted risk-free interest rate is 9%. Before responding to Alice, you need to research the issue. Access the FASB Accounting Standards Codification at the FASB website and select Basic View for free access. Research Case 10-2 (Statlc) Part 4 4. Determine the specific Codification citation for each of the following. based on the format indicated: (a) the calculation of accretion expense (XXXXXXXX) and (b) the classification of accretion expense in the income statement (XXXXXXXX). How much accretion expense will the company record in its income statement for the 2024 fiscal year, related to this transaction? Note: Round your Intermedlate and flnal onswer to neorest whole dollars. Requlred Information Research Case 10-2 (Static) FASB codification; locate and extract relevant information and cite authoritative support for a financial reporting issue; restoration costs; asset retirement obligation [LO10-1] Your client, Hazelton Mining, recently entered into an agreement to obtain the rights to operate a copper mine in West Virginia for $15 million. Hazelton incurred development costs of $6 million in preparing the mine for extraction, which began on July 1, 2024. The contract requires Hazelton to restore the land and surrounding area to its original condition after extraction is complete in three years. The company controller, Alice Cushing, is not sure how to account for the restoration costs and has asked your advice. Alice is aware of an accounting standard addressing this issue, but is not sure of its provisions. She has narrowed down the possible cash outflows for the restoration costs to four possibilities. Alice also informs you that the company"s credit-adjusted risk-free interest rate is 9%. Before responding to Alice, you need to research the issue. Access the FASB Accounting Standards Codification at the FASB website and select Basic View for free access. Research Case 10-2 (Statlc) Part 4 4. Determine the specific Codification citation for each of the following. based on the format indicated: (a) the calculation of accretion expense (XXXXXXXX) and (b) the classification of accretion expense in the income statement (XXXXXXXX). How much accretion expense will the company record in its income statement for the 2024 fiscal year, related to this transaction? Note: Round your Intermedlate and flnal onswer to neorest whole dollars