$($Intangible Amortization$)$ Selected information follows for Mount Olympus Corporation for three independent situations:

Mount Olympus purchased a patent from Bakhshi Co$.$ for $$1\mathrm{.}8$ million on January $1,2021.$ The patent expires on January $1,2031,$ and Mount Olympus is amortizing it over the $10$ years remaining in its legal life. During $2023,$ Mount Olympus determined that the patent$$s economic benefits would not last longer than six years from the date of acquisition.

Mount Olympus bought a perpetual franchise from Carmody Inc. on January $1,2023,$ for $$650,000.$ Its carrying amount on Carmody$$s books at January $1,2023,$ was $$750,000.$ Assume that Mount Olympus can only provide evidence of clearly identifiable cash flows for $25$ years, but thinks the franchise could have value for up to $60$ years.

On January $1,2021,$ Mount Olympus incurred development costs $($meeting all required criteria$)$ of $$375,000.$ Mount Olympus is amortizing these costs over five years.

In situation $1,$ what amount should be reported in the statement of financial position for the patent, net of accumulated amortization, at December $31,2023?$

In situation $2,$ what amount of amortization expense should be reported for the year ended December $31,2023?$

In situation $3,$ what amount, if any, should be reported as unamortized development costs as at December $31,2023?$ How might the accounting treatment change if Mount Olympus were using ASPE?