On May 5 of the current tax year, Brian purchased a patent that qualifies as...
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Accounting
On May 5 of the current tax year, Brian purchased a patent that qualifies as a Section 197 intangible. The cost of the patent was $207,000 and Brian is a calendar-year taxpayer. In the current year, how much of the patents cost can Brian amortize?
a. $1,150
b. $4,600
c. $9,200
d. $13,800
e. None of these
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