Bill amends, owner of larkspur estate inc., buys and sells commercial properties. recently, he sold land for $3,270,000 to the blackhawk group, a developer that plans to build a new shopping mall. in addition to the $3,270,000 sales price, blackhawk group agrees to pay larkspur estate inc. 1% of the retail sales of the mall for 10 years. blackhawk estimates that retail sales in a typical mall project is $1,060,000 a year. given the substantial increase in online sales that are occurring in the retail market, bill had originally indicated that he would prefer a higher price for the land instead of the 1% royalty arrangement and suggested a price of $3,496,000. however, blackhawk would not agree to those terms. what is the transaction price for the land and related royalty payment that larkspur estate inc. should record? transaction price