The following information relates to the intangible assets of university testing services (uts): on january 1, 2021, uts completed the purchase of heinrich corporation for $3,255,000 in cash. the fair value of the net identifiable assets of heinrich was $2,950,000. included in the assets purchased from heinrich was a patent valued at $103,500. the original legal life of the patent was 20 years; there are 12 years remaining, but uts believes the patent will be useful for only nine more years. uts acquired a franchise on july 1, 2021, by paying an initial franchise fee of $288,000. the contractual life of the franchise is 8 years.

At december 31, 2018, newman engineering’s liabilities include the following: $29 million of 5% bonds were issued for $29 million on may 31, 1999. the bonds mature on may 31, 2029, but bondholders have the option of calling (demanding payment on) the bonds on may 31, 2019. however, the option to call is not expected to be exercised, given prevailing market conditions. $33 million of 4% notes are due on may 31, 2022. a debt covenant requires newman to maintain current assets at least equal to 194% of its current liabilities. on december 31, 2018, newman is in violation of this covenant. newman obtained a waiver from national city bank until june 2019, having convinced the bank that the company’s normal 2 to 1 ratio of current assets to current liabilities will be reestablished during the first half of 2019. $26 million of 7% bonds were issued for $26 million on august 1, 1989. the bonds mature on july 31, 2019. sufficient cash is expected to be available to retire the bonds at maturity. required: classify the above mentioned debts as current liabilities or noncurrent liabilities. also, provide corresponding value for the same. (enter your answer in millions (i.e., 10,000,000 should be entered as