a company acquired a patent on 1/1/22 signing a note to pay a single lump sum of 20000000 in 4 years the note is non interest bearing but the company has a risk adjusted discount rate of 5% on all borrowings

i=4%. i=5%. i=6%

N=4 0.8548. 0.8227. .7921.

N=5 .8219 .7835. .7473

2. A lamd development company aquieed a 1000 acee tract of land in the montana area. the company issued 100000 shares of its zero par value common stock to purchase the land. provide a journal entry to record the purchase of land under the two scenarios:

a: the company is publicly traded with a market price per shate of $123

b: the company is privately owned with a unidentifiable stock price; however recent tax appraisal value the lans at 11000000