notes to consolidated financial statements ( continued ) note 4 2014acquisitions ( continued ) acquisition of emagic gmbh during the fourth quarter of 2002 , the company acquired emagic gmbh ( emagic ) , a provider of professional software solutions for computer based music production , for approximately $ 30 million in cash ; $ 26 million of which was paid immediately upon closing of the deal and $ 4 million of which was held-back for future payment contingent on continued employment by certain employees that would be allocated to future compensation expense in the appropriate periods over the following 3 years .during fiscal 2003 , contingent consideration totaling $ 1.3 million was paid .the acquisition has been accounted for as a purchase .the portion of the purchase price allocated to purchased in-process research and development ( ipr&d ) was expensed immediately , and the portion of the purchase price allocated to acquired technology and to tradename will be amortized over their estimated useful lives of 3 years .goodwill associated with the acquisition of emagic is not subject to amortization pursuant to the provisions of sfas no .142 .total consideration was allocated as follows ( in millions ) : .
[['net tangible assets acquired', '$ 2.3'], ['acquired technology', '3.8'], ['tradename', '0.8'], ['in-process research and development', '0.5'], ['goodwill', '18.6'], ['total consideration', '$ 26.0']]
the amount of the purchase price allocated to ipr&d was expensed upon acquisition , because the technological feasibility of products under development had not been established and no alternative future uses existed .the ipr&d relates primarily to emagic 2019s logic series technology and extensions .at the date of the acquisition , the products under development were between 43%-83% ( 43%-83 % ) complete , and it was expected that the remaining work would be completed during the company 2019s fiscal 2003 at a cost of approximately $ 415000 .the remaining efforts , which were completed in 2003 , included finalizing user interface design and development , and testing .the fair value of the ipr&d was determined using an income approach , which reflects the projected free cash flows that will be generated by the ipr&d projects and that are attributable to the acquired technology , and discounting the projected net cash flows back to their present value using a discount rate of 25% ( 25 % ) .acquisition of certain assets of zayante , inc. , prismo graphics , and silicon grail during fiscal 2002 the company acquired certain technology and patent rights of zayante , inc. , prismo graphics , and silicon grail corporation for a total of $ 20 million in cash .these transactions have been accounted for as asset acquisitions .the purchase price for these asset acquisitions , except for $ 1 million identified as contingent consideration which would be allocated to compensation expense over the following 3 years , has been allocated to acquired technology and would be amortized on a straight-line basis over 3 years , except for certain assets acquired from zayante associated with patent royalty streams that would be amortized over 10 years .acquisition of nothing real , llc during the second quarter of 2002 , the company acquired certain assets of nothing real , llc ( nothing real ) , a privately-held company that develops and markets high performance tools designed for the digital image creation market .of the $ 15 million purchase price , the company has allocated $ 7 million to acquired technology , which will be amortized over its estimated life of 5 years .the remaining $ 8 million , which has been identified as contingent consideration , rather than recorded as an additional component of .

Question: during the fourth quarter of 2002 , the company acquired emagic gmbh ( emagic ) , a provider of professional software solutions for computer based music production , for approximately $ 30 million in cash . what percentage of the purchase price was paid immediately upon closing of the deal?
Answer: 86.7%