Tin Mines International Ltd. discovered a new iron ore deposit, the Grouse Mine, and began production on January 1, 2020. The province requires mining companies to return the land to its natural state at the end of mining activity. Tin Mines International estimates that it will operate the mine for years at which time it will cost an 4% discount rate, and follows ASPE Instructions a) b) 20 $107,000,000 for the land restoration project. Tin Mines international uses Record any obligation for land restoration at January 1, 2020 Record any entry required related to this obligation at December 31, 2020