Explain how to record the patent

Reference no: EM13160055

On May 5, 2011 MacDougal Corp. exchanged 2000 shares of its $25 par value treasury common stock for a patent owned by Masset Co. The treasury shares were acquired in 2010 for $45,000. At May 5, 2011, MacDougal's common stock was quoted at $34 per share, and the patent had a carrying value of $55,000 on Masset's books. MacDougal should record the patent at:

a. $45,000

b. $50,000

c. $55,000

d. $68,000

Reference no: EM13160055

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