Question: Please explain the correct approach for solving this general accounting question. On March 15, 2015, the Alpha Tech Corporation applied for a patent. Legal costs

Please explain the correct approach for solving this general accounting question.

On March 15, 2015, the Alpha Tech Corporation applied for a patent. Legal costs associated with the application were $8,000. In March 2016, the company incurred $20,000 of legal fees in a successful defence of its patent. The patent was not impaired in 2015 and 2016

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