Provide Solution with the given problem

PROBLEM The following T-account represents the transactions affecting the balance of the Patent account: Patent 1/1/2016 P 500,000 1/1/2018 240,000 1/1/2019 200,000 1/1/2020 100,000 | P 1,040,000 12/31/2016 Additional information: The balance on January 1, 2016 reflects the amount debited to the account when it acquired a patent from unrelated company for P500,000. Rex estimates that the patent has a remaining useful life of 10 years. On January 1, 2018, Rex Co. debited the patent account when it acquired a competitive patent from Dauz Corp for P240,000 in order to protect the old patent. The competitive patent has a remaining legal life and useful life of 16 years. On January 1, 2019, Rex Co. debited the patent account when it acquired a related patent from Banggawan Corp. for P200,000. The related patent extended the useful life of the old and competitive patents for 20 years. On January 1, 2020, Rex Co. debited the patent account when it incurred litigation costs of P100,000 in an unsuccessful defense of the patents held. No amortization has yet been recognized by the company. Compute for the following: 1. Amortization in 2016. 2. Amortization in 2018. 3. Carrying value of the Patent, December 31, 2018. 4. Amortization in 2019