Northern Mining Corp. is a public company that is developing a new gold mine in Northern Canada. It is expected that the ore deposit will be commercially viable for the next 25 years, and that the costs to remediate the land to its predevelopment condition will amount to $8,000,000 at that time. Given the risk level of the project, Northern Mining Corp. believes that an appropriate discount rate is 12% for this new project. The present value of the remediation costs is $470,586. Which of the following journal entries should be used to record the expected decommissioning costs?

A. DR Mine asset 470,586 CR Decommissioning provision 470,586

B. DR Decommissioning expense 470,586 CR Decommissioning provision 470,586

C. DR Mine asset 8,000,000 CR Decommissioning provision 8,000,000

D. DR Decommissioning expense 8,000,000 CR Decommissioning provision 8,000,000