Carla Vista Pharmaceuticals entered into a licensing agreement with Zenith Lab for a new drug under development. Carla Vista will receive $8450000 if the new drug receives FDA approval. Based on prior approval, Carla Vista determines that it is 90% likely that the drug will gain approval. The transaction price of this arrangement should be $0 until approval is received. a.$7605000. b.$8450000. c.$845000.
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