Mega Mines acquires a new mine for $$1,000,000.$ Mega Mines determines at the date of acquisition that it will cost $$140,000$ to restore the land when the mining process is complete in $5$ years. Mega Mines has a legal obligation to remove the equipment upon completion of the mining activities. Which of the following are acceptable choices for determining when to recognize an asset retirement obligation? $($Select all that apply.$)$

Multiple select question.

Over the asset's life as incurred.

At the asset's retirement date.

At the inception of the asset's life.

$$

$$

Cost of land and natural resource rights

$$200,000$

Asset retirement obligation to restore land

$50,000$

Costs of extraction during year $1$

$35,000$

Equipment used for mining

$100,000$

Exploration and drilling costs to prepare quarry for extraction

$40,000$

$$

What amount should be included as an asset for natural resources?