Multiple Choice Question 132 On July 1, 2014, Ed Wynne signed an agreement to operate as a franchisee of Kwik Foods, Inc, for an initial franchise fee of $600,000. Of this amount, signed and the balance is payable in four equal annual payments of $100,000 beginning July 1, 2015. The agreement provid egured o the fran h soc wynes credit rating indicates that he can borrow money at l 4% for a loan of this type. Information on present and future value factors $200,000 was paid when the agreement was es that the down payment is not refundable and no future services are as follows: Present value of 1 at 14% for 4 penods Future value of 1 at 14% for 4 1-69 Present value of an ordnary annuity of 1 at 14% for 4 penods Wynne should record the acquisition cost of the franchise on July 1, 2014 at O $491,000. O $676,000. O $600,000. ?36.000. Click if you would like to Show Work for this question: n h