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Business, 20.09.2019 00:30 Amrinderkhattra

On september 30, 2018, corso steel acquired a patent from thermo steel. the agreement specified that corso will pay thermo $1,000,000 immediately and then another $1,000,000 on september 30, 2020. an interest rate of 8% reflects the time value of money for this type of loan agreement. (pv of $1, pva of $1) (use appropriate factor(s) from the tables provided.) what amount of interest expense, if any, would corso record on december 31, 2018, the company’s fiscal year end?

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