Sunland Company incurred research and development costs of $106000 and legal fees of $46000 to...
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Accounting
Sunland Company incurred research and development costs of $106000 and legal fees of $46000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Sunland record as Patent Amortization Expense in the first year?
$ 15200.
$ 4600.
$ 7600.
$ 0.
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