Save Answer Question 20 0.7 points Harrel Company acquired a patent on an oil extraction technique on January 1, 2018 for $7 500,000 it was expected to have a 10 year life and no residual value Harrel uses straight line amortization for patents. On December 31, 2020 the expected future cash flows expected from the patent were expected to be $800,000 per year for the next eight years. The present value of these cash flows discounted at Harrel's market interest rate, is $4 200,000 At what amount should the patent be carried on the December 31, 2020 balance sheet? 7.500.000 5250.000 6 400.000 4200 000