Calculating present value of annuity
What is the present value of an annuity due of $1500 per year that will be received for 5 years assuming an interest rate of 12%?
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What is the present value of a lump sum of $300 that will be paid at the end of the 5th year assuming an interest rate of 10%?
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Titan Corporation acquired a patent on September 28, 2013. Titan paid cash of $63,000 to the seller. Legal fees of $2,000 were paid related to the acquisition. At what amount should Titan record the patent on its books?
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