Question: 7 On January 3, 2024, a comparty purchased a patent for $471.000 to m has a remaining legal tife of 12 years. The company plans

On January 3, 2024, a comparty purchased a patent for $471.000 to m has a remaining legal tife of 12 years. The company plans to manufact patent for 557000 . The company amortizes intangible assets using thi 2026, the company decides to sell the patent for $332.000. Assuming what is the gain or loss reported on the sale of the patent? Multiple Choice $14,250 gain $69,938 loss

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