On January 1, 2020, Payton Inc. purchased a patent. At that time, the patent was recorded at $2.3 million and was expected to have a useful life of 20 years. Between 2020 and 2024 the patent was not impaired. Assuming that no revisions to the useful life were required, the amortization expense for 2024 was:

a. $115,000. 

b. nil. 

c. $121,053. 

d. $184,000.

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