Multiple Choice
Potter Company has purchased a patent that requires annual payments of $31,250 to be paid at the end of each of the next 6 years. The appropriate discount rate is 12%. What amount will be used to record the patent?
A) $187,500
B) $128,482
C) $172,679
D) $120,469
Correct Answer:
Verified
Correct Answer:
Verified
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