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What are the initial recognition and subsequent measurements

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MPL paid $1.2 million to acquire the nontransferable rights to distribute its products through ABC Ltd. for a four-year period and must pay a royalty of 2% of all products sold through this outlet. MPL expects that there is a 55% chance that this new distribution arrangement will increase total sales by 5%. Total revenue in the current fiscal year is $5,150,000. However, there is a 25% probability that sales could increase by as much as 10%, and a 20% probability that sales could increase by as little as 2%.

Problem 1: What are the initial recognition and subsequent measurements of this transaction?

Reference no: EM132812571

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