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please help 18. On January 1. 20x1, Devjo Co. bought a franchise from McDo Co. The franchise requires an initial fee of P15,000,000 payable as

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18. On January 1. 20x1, Devjo Co. bought a franchise from McDo Co. The franchise requires an initial fee of P15,000,000 payable as follows: P5,000,000 down payment on contract date and the balance in five equal annual installments starting one year from contract date plus 4% interest on the outstanding principal balance. The current market rate as of contract date is 12%. How much is the initial measurement of the intangible asset? a. 14,887.922 b. 15,234,000 c. 13,765,340 d. 13,139,702 19. Joshua Bank (a NON-VAT registered entity) purchased an intangible asset from Tristan Co. for $590,000 when the exchange rate was P1: $,0204. A 5% discount was available on the purchase, Non-transferrable taxes pald amounted to 20% of the invoice price, net of the discount A 12% VAT was also paid based on the amount that is gross of the non-transferrable taxes. Installation and testing costs amounted to P40,000. How much will be recorded as intangible asset? a. 36,976.059 b. 33,010,598 C. 33,050,589 d. 36,967,059 20. Chair Leader Co. purchased a patent on January 1, 20x3 for P120,000. The patent had a remaining useful life of 10 years at that date, In January of 20x4, Chair incurred P54,000 in acquiring another patent that clearly extended the existing patent's life to 12/31/15. What amount of amortization expense would Chair record in 20x47 a. 12,000 b. 13,500 C. 14,500 d. 18,000

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