Wildhorse Company incurred research and development costs of $97000 to develop a patent, and legal fees of
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Wildhorse Company incurred research and development costs of $97000 to develop a patent, and legal fees of $37000 to register the patent. The patent has a legal life of 20 years and a useful life of 10 years.
What amount should Wildhorse record as Patent Amortization Expense in the first year if the straight-line method is used?
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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