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Cornerstone Exercise 7-25 (Algorithmic) Cost of Intangible Assets Advanced Technological Devices Inc. acquired a patent...

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Accounting

Cornerstone Exercise 7-25 (Algorithmic) Cost of Intangible Assets

Advanced Technological Devices Inc. acquired a patent for $130,000. It spent an additional $20,000 successfully defending the patent in legal proceedings.

Required:

Determine the cost of the patent.

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