Multiple Choice. Compute for the correct answer. Write your final answer in the answer sheet designed for this examination. Use capital letters. Erasures and alterations are not allowed in the answer sheet. Submit supporting computations to get credit. 1. The corporation purchased a patent on May 1, 2019 for P216,000. On this date, the patent has a remaining commercial life of eight(8) years. Early in Jan., 2020, P83,600 is paid to settle an infringement suit. How much is patent amortization expense in the 2019 income statement? a. P27,000 c. P12,704 b. P18,000 d. None of these; answer is 2. Using the same data in no. 1, how much is the amortization expense for the 2020 income statement assuming the defense was successful? a. P27,000 c. P29,400 b. P38,400 d. None of these; answer is 3. Using the same data in no. 1, how much is the amortization expense for the 2020 income statement assuming the defense was unsuccessful? a. P27,000 C. P29,400 b. P38,400 d. None of these; answer is 4. Blade Corporation spent P500,000 for R&D expenses to develop a patent which is registered on Jan. 2, 2017. The company paid P544,000 for legal and other fees to register the patent. On July 1, 2019, the corporation paid an additional P148,800 in successfully defending the patent. On Jan. 1, 2020, the corporation purchased a complimentary patent for P340,000. How much amortization expense should be reported in the 2019 income statement? a. P27,200 c. P36,800 b. P38,000 d. None of these; answer is 5. Using the same data in no. 4, how much amortization expense should be reported in the 2020 income statement? a. P27,200 c. P47,200 b. P56,800 d. None of these; answer is