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Compute for the carrying amount (i.e. cost net of accumulated amortization) of the intangibles on December 31, 2022

Exercise 3 ABC Inc. has the following details for two of its intangible assets: I On January 1, 2019, ABC Inc. purchased a patent from an original patentee for P2,400,000. The remaining legal life of the patent is 15 years but the useful life is only 12 years. On January 1, 2020, the entity paid P550,000 in successfully defending the patent in an infringement suit led against the entity. (in January 1, 2021, the entity acquired a competing patent for P1,500,000. The competing patent has a remaining legal life of 15 years, but it is not to be used because it was intended to protect the original patent. - On January 1, 2019, ABC Inc. purchased a trademark for P1140000. The trademark is being amortized over its remaining legal life of 15 years. During 2022, the entity determined that the economic benefits of the trademark would not last longer than ten years from the date of acquisition. Regurred Compute for the carrying amount [i.e. cost net of accumulated amortization] ofthe intangibles on December 31, 2022