Question: Help I got this wrong Company W sold services with a stand-alone fair value of $7,000 and equipment with a stand-alone fair value of $25,000

Help I got this wrong Company W sold services with a stand-alone

Help I got this wrong

Company W sold services with a stand-alone fair value of $7,000 and equipment with a stand-alone fair value of $25,000 to Company X. Further, Company W provided payment terms such that no amounts are due for 366 days, at which time the full balance is due. The appropriate discount rate is 7%, which yields a contract price of $29,907. What is the amount of the price to allocate to the services portion? Answer: 23,364.84

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