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16. CK incurred $68,000 of research and development costs in its laboratory to develop a...

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Accounting

16. CK incurred $68,000 of research and development costs in its laboratory to develop a patent, which was granted on January 2, 2021. Legal fees and other costs associated with registration of the patent totalled $27,201. CK estimates that the economic life of the patent will be eight years. What amount should CK charge to patent amortization expense for the year ended December 31, 2028

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