P$12\mathrm{.}2($LO $1,2,4,5)($Accounting for Patents$)$ Fields Laboratories holds a valuable patent$($No$.198-0002-1$A$)$ on a precipitator that prevents certain types or alf pontution. Fielas does not manurac$-$ture or sell the products and processes it develops. Instead, it conducts research and develops products and processes which it patents, and then assigns the patents to manufacturers on a royalty basis. Occasionally it sells a patent. The history of Fields patent number $758-6002-1$A is as follows.compettorDateActivity$2011-2012$Research conducted to develop precipitatorJan. $2013$Design and construction of a prototypeMaren doTesting of modelsJan. $2014$Fees paid engineers and lawyers to prepare patent application; patent granted June $30,2014$mwmNOV. LUISEngineering activity necessary to advance the design of theprecipitator to the manuacturing stageDec. $2016$Legal fees paid to successfully defend precipitator patentApril $2017$Research aimed at modifying the design of the patented$43,000$July $2021$precipitatorLegal fees paid in unsuccessful patent infringement suit against a$12-36$ CHAPTER $12$ Intangible AssetsFields assumed a useful life of $17$ years when it received the initial precipitator patent. On January $1,2019,$ it revised its useful life estimate downward to $5$ remaining years. Amortization is computed for a full year if the cost is incurred prior to July $1,$ and no amortization for the year if the cost is incurred after June $30.$The company's year ends December $31.$Instructionscompute the carrying value or patent No$.198-0002-$la on each or the lonlowing dates.a$.$ December $31,2014.$b$.$ December $31,2018.$c$.$ December $31,2021.$