On May 5, 2015, MacDougal Corp

Multiple Choice

On May 5, 2015, MacDougal Corp. exchanged 4,000 shares of its $25 par value treasury common stock for a patent owned by Masset Co. The treasury shares were acquired in 2014 for $90,000. At May 5, 2015, MacDougal's common stock was quoted at $34 per share, and the patent had a carrying value of $110,000 on Masset's books. MacDougal should record the patent at

A) $90,000.
B) $100,000.
C) $110,000.
D) $136,000.