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Malrom Manufacturing Company acquired a patent on a manufacturing process on January 1, 2006 for $10,000,000. It was expected to have a 10 year life and no residual value. Malrom uses straight-line amortization for patents. On December 31, 2007, the expected future cash flows expected from the patent were expected to be $800,000 per year for the next eight years. The present value of these cash flows, discounted at Malrom's market interest rate, is $4,800,000.
At what amount should the patent be carried on the December 31, 2007 balance sheet?
question write your birth date or the birth date of someone in your family as mmddyy.now let a the one- or two-digit
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