High Tech Enterprises purchased a patent from Aerospace industries for $600,000 on 4/19/2014. Aerospace was granted his
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Question:
High Tech Enterprises purchased a patent from Aerospace industries for $600,000 on 4/19/2014. Aerospace was granted his original patent 7 years ago from the US patent office. How much amortization deduction will High Tech have on its 2014 income tax return due to this purchase?
a. 120,000
b. 60,000
c. 45,000
d. 42,500
e. None of the above
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