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Gami Corp. obtained a 12-year patent for its specialized manufacturing process at a cost of...

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Accounting

Gami Corp. obtained a 12-year patent for its specialized manufacturing process at a cost of $240544. This cost includes $41970 that was spent in legal costs defending it. The estimated useful life of the patent is 7 years. What will be the annual depreciation expense for Gamis patent?

a. $28368 b. $34363 c. $20045 d. $16548

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