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1.) The following information is available for Lily Company's patents: ? Cost- P1,720,000 ? Carrying amount- P860,000 ? Expected future net cash flows- P800,000 ?

1.) The following information is available for Lily Company's patents: â?¢ Cost- P1,720,000 â?¢ Carrying amount- P860,000 â?¢ Expected future net cash flows- P800,000 â?¢ Fair value- P650,000 Lily wou...

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