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Matthew King, owner of Crane Estate Inc.. buys and sells commercial properties. Recently, he sold...

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Accounting

Matthew King, owner of Crane Estate Inc.. buys and sells commercial properties. Recently, he sold Shamrock Group. a developer that plans to build a new shopping mall. In addition to the $2.960.000 agrees to pay Crane Estate Inc. 1% of the retail sales of the mall for 10 years. Shamrock estimates the project is $1.020.000 a year. Given the substantial increase in online sales that are occurring in the re originally indicated that he would prefer a higher price for the land instead of the 1% future-sales-base price of $3.212,000. However. Shamrock would not agree to those terms. What is the transaction price for the land and related royalty payment that Crane Estate Inc. should reco Transaction price

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