9 On March 1, 2021, Shipley Resources entered into an agreement with the state of Alaska to obtain the rights to operate a mineral mine for $6 million The mine is expected to produce 135,000 tons of mineral. As part of the agreement, Shipley agrees to restore the land to its original condition after mining operations are completed in approximately five years. Management has provided the following possible outflows for the restoration costs that will occur five years from now (PV of $1. PVA of SJ (Use appropriate factor(s) from the tables provided.) Cash Outflow Probability $440,000 20% 575,000 710,000 50% 22:36.00 30% Shipley's credit-adjusted risk-free interest rate is 9% During 2021, Shipley extracted 24,300 tons of ore from the mine. How much accretion expense will the company record in its income statement for the 2021 fiscal year? Multiple Choice A company purchased new equipment for $65,000. The company paid cash for the equipment Other costs associated with the equipment were transportation costs, $1.250: sales tax paid $4,000; and Installation cost, $3.000. The cost recorded for the equipment was Multiple Choice 573.250 566 250 565.000 Prev 10 of 251 Next >