On 1 October 20X3 Xplorer Co commenced drilling for oil from an undersea oilfield. The extraction of oil causes damage to the seabed which has a restorative cost (ignore discounting) of $10,000 per million barrels of oil extracted. Xplorer Co extracted 250 million barrels in the year ended 30 September 20X4.Xplorer Co is also required to dismantle the drilling equipment at the end of its five-year licence. This has an estimated cost of $30 million on 30 September 20X8. Xplorer Co's cost of capital is8%per annum and $1 has a present value of 68 cents in five years' time.What is the total provision (extraction plus dismantling) which Xplorer Cowould report in its statement of financial position as at 30 September 20X4 in respect of its oil operations?