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  3. on september 30,2024, a company acquired a patent.

On September 30,2024, a company acquired a patent. The agreement specified that the company will...

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Accounting

On September 30,2024, a company acquired a patent. The agreement specified that the company will pay $1,325,000 immediately and then another $1,325,000 on September 30,2026. An interest rate of 9% 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?
Multiple Choice
$2,582,886
$2,297,564
$2,440,226
$2,495,271

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