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A private university receives a split interest agreement in which they will receive stock with a fair market value of $1,000,000. They will be required

A private university receives a split interest agreement in which they will receive stock with a fair market value of $1,000,000. They will be required to make payments to the donors daughter for the next 35 years, the present value of these payments is $350,000. Prepare the necessary entry for the university given this split interest agreement.

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