Smithson Mining operates a silver mine in Nevada. Acquisition, exploration, and development costs totaled $5.7 million. After the silver is extracted in approximately five years, Smithson is obligated to restore the land to its original condition, including constructing a wildlife preserve. The company's controller has provided the following three cash flow possibilities for the restoration costs: (1) $510,000, 15% probability; (2) $560,000, 50% probability; and (3) $660,000, 35% probability. The company's credit-adjusted, risk-free rate of interest is 8%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What is the book value of the asset retirement liability at the end of one year? Assuming that the actual restoration costs incurred after extraction is completed are $606,000, what amount of gain or loss will Smithson recognize on retirement of the liability? (Do not round intermediate calculations. Enter your answer in whole dollars.) Answer is complete but not entirely correct. $ 431,460 Liability Loss on retirement $ 18,500 Problem 13-58 (LO 13-2) (Static) In 2021, Nitai (age 40) contributes 10 percent of his $100,000 annual salary to a Roth 401(k) account sponsored by his employer, AY Incorporated AY Incorporated matches employee contributions to the employee's traditional 401(k) account dollar-for-dollar up to 10 percent of the employee's salary. Nitai expects to earn a 7 percent before-tax rate of return. Assume he leaves the contributions in the Roth 401(k) and traditional 401(k) accounts until he retires in 25 years and that he makes no additional contributions to either account. What are Nitai's after-tax proceeds from the Roth 401(k) and traditional 401(k) accounts after he receives the distributions, assuming his marginal tax rate at retirement is 30 percent? (Use Table 1, Table 2.) (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Roth 401(k) Traditional 401(k) After tax proceeds from distribution