Question: On September 3 0 , 2 0 2 4 , a company acquired a patent. The agreement specified that the company will pay $ 1

On September 30,2024, a company acquired a patent. The agreement specified that the company will pay $1,000,000 immediately and then another $1,000,000
on September 30,2026. An interest rate of 8% reflects the time value of money for this type of loan agreement. (PV of $1, PVA of $1)
The company should record the acquisition of the patent on September 30,2024, for what amount?
On September 30,2024, a company acquired a patent. The agreement specified

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