Ivanhoe Corp. acquires a patent from Maxi Co. in exchange for2400 shares of Ivanhoe Corp.’s $5 par value common stock and $92000cash. When the patent was initially issued to Maxi Co., Ivanhoe Corp.’s stock was selling at $7.70 per share. When Ivanhoe Corp. acquired the patent, its stock was selling for $9.20 a share. Ivanhoe Corp. should record the patent at what amount?

$104000

$110480

$114080

$92000