Saved 3 Jackpot Mining Company operates spent an additional $620,000 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: (FV of $1. PY of $1 a copper mine in central Montana. The company paid $1100,000 in 2018 for the mining site and 12.5 points S!. PVAolS EVA of $1. PVA of $1 EVAD of $1 and PVAD of S) (Use appropriate factor(s) from the tables provided.) Cash OutflowProbability 5320,e0 420,eee 620,880 20% 45% 35% eBook To aid extraction, Jackpot purchased some new equipment on July 1. 2018, for $140,000. After the copper is removed from this mine, the equipment will be sold. The credit-adjusted, risk-free rate of interest is 12%. Hint 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. Print References Complete this question by entering your answers in the tabs below Required 1 Required 2 Determine the cost of the copper mine. (Do not round intermediate calculations. Round your answer to the nearest whole dollar CRequired Required 2>