Whispering Winds Inc., a private company following ASPE, developed a new gold mine during 2023, and is required by provincial law to restore the site to its previous condition once mining operations are completed. The company estimates that the mine will close in 20 years and that the land restoration will cost $5110000. Whispering Winds uses a 6% discount rate. To the nearest dollar, the entry to record the asset retirement obligation is Restoration Expense 255500 Asset Retirement Obligation 255500 Gold Mine 5110000 Asset Retirement Obligation 5110000 Restoration Expense 95599 Asset Retirement Obligation 95599 Gold Mine 1593322 Asset Retirement Obligation 1593322