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During 2010, Fa S2,500,000 fees should be a. expensed in 2010 and classified as ordinary expense b. classified as an extraordinary item on the income statement for 2010 c. capitalized and amortized over the remaining legal life of the patent d. capitalized and amortized over the remaining economic life or legal life of the patent, rver Company incurred $200,000 in legal fees in defending a patent with a carrying value of against an infringement. Farver's lawyers were successful with the defense of the patent. The legal whichever is shorter 13. During 2010, Farver Company incurred $240,000 in legal fees in defending a patent with a carrying value of $2,500,000 against an infringement. Farver's lawyers were not successful with the defense of the patent. The legal fees should be a. expensed in 2010 and classified as ordinary expense b. classified as an extraordinary item on the income statement for 2010 c. capitalized and amortized over the remaining legal life of the patent d. capitalized and amortized over the remaining economic life or legal life of the patent, whichever is shorter In January 2010, the Remy Corporation purchased a patent for $231,000 from Nel Company t remaining legal life of 14 years. Remy estimated that the remaining economic life would be seven years. In January 2014, the company incurred $30,000 in legal costs to defend the patent from an infringement. Remy's lawyers were successful, and the remaining years of benefit from the patent were estimated to be 13. patent amortization expense for 2014 is a. 7,615 b. S 9,923 c. $16,500 d. $21,500

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