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Amortization Expense For each of the following unrelated situations, calculate the annual amortization expense: a....

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Amortization Expense For each of the following unrelated situations, calculate the annual amortization expense: a. A patent with a 15-year remaining legal life was purchased for $405,000. The patent will be commercially exploitable for another nine years. b. A patent was acquired on a device designed by a production worker. Although the cost of the patent to date consisted of $63,450 in legal fees for handling the patent application, the patent should be commercially valuable during its entire remaining legal life of 18 years and is currently worth $567,000. C. A franchise granting exclusive distribution rights for a new solar water heater within a three-state area for four years was obtained at a cost of $94,500. Satisfactory sales performance over the four years permits renewal of the franchise for another four years (at an badditional cost determined at renewal) a Annual amortization expense 67,500 X bS 3,525 5 23,625 Check

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