Flute Co undertakes drilling activities and has a widely publicised environmental policy stating that it will incur costs to restore land to its original condition once drilling activities have been completed.Drilling commenced on a particular piece of land on 1 July 20X8. At this time, Flute Co estimated that it would cost $3 million to restore the land when drilling was completed in five years' time. Flute Co's cost of capital is 7% and the appropriate present value factor is 0.713. At what amount will the provision for restoration costs be measured in Flute Co's statement of financial position as at 31 December 20X8?