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How much will be recorded as intangible asset

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Reference no: EM132526055

DEF Co., a VAT-registered entity, purchased from XYZ Co. an intangible asset for $10,000. A 5% discount is available on the purchase. On acquisition date, the exchange rate was ?46:$1. A 12% VAT was paid based on the invoice price, gross of discount. Installation and testing costsbamiunyed to ?25,000.

Question 1: How much will be recorded as intangible asset?

Reference no: EM132526055

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