Smithson Mining operates a silver mine in Nevada. Acquisition, exploration, and development costs totaled $6.8 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 companys controller has provided the following three cash flow possibilities for the restoration costs: (1) $620,000, 15% probability; (2) $670,000, 45% probability; and (3) $770,000, 40% probability. The companys 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 initial cost of the silver mine? (Enter your answers in whole dollars.)

Table or calculator function: Restoration Costs: Acquisition, exploration and development Initial Cost: 0