Topic: Contingent Liability On December 20, 2020 Bolder Corp. had a chemical spill in a field adjacent to their factory. They completed and paid cash for the immediate clean up prior to their Dec. 31 year-end. However, they have consulted with an environmental engineering firm that indicated that there is a 90% chance that Bolder Corp. will have to perform a further clean up in six months. The cost of such a clean up would most likely be $100,000. If the . weather is perfect during the clean up, it could cost as little as $95,000. On the other hand, there is a small chance that soil contamination could spread, increasing the costs to $150,000. Note: Boulder Corp. follows U.S. GAAP. How much of a contingent liability should Boulder Corp. recognize in their 2020 financial statements? $100,000$95,000$150,000$115,000