E$11\mathrm{.}4($L$01,2,4)$ Company.

The following is selected information for Alatorre

Alatorre purchased a patent from Vania Co$.$ for $$1,000,000$ on January $1,2023.$ The patent is being amortized over its remaining legal life of $10$ years, expiring on January $1,2033.$ During $2025,$ Alatorre determined that the economic benefits of the patent would not last longer than $6$ years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December $31,2025?$

Alatorre bought a franchise from Alexander Co$.$ on January $1,2024,$ for $$400,000.$ The carrying amount of the franchise on Alexander's books on January $1,2024,$ was $$400,000.$ The franchise agreement had an estimated useful life of $30$ years. Because Alatorre must enter a competitive bidding at the end of $2026,$ it is unlikely that the franchise will be retained beyond $2033.$ What amount should be amortized for the year ended December $31,2025?$

On January $1,2025,$ Alatorre incurred organization costs of $$275,000.$ What amount of organization expense should be reported in $2025?$

Alatorre purchased the license for distribution of a popular consumer product on January $1,2025,$ for $$150,000.$ It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of $5$ years but by paying a nominal fee, Alatorre can renew the license indefinitely for successive $5-$year terms. What amount should be amortized for the year ended December $31,2025?$