Ely CoBought a Patent from Baden Corp

Multiple Choice

Ely Co.bought a patent from Baden Corp.on January 1, 2011, for $300,000.An independent consultant retained by Ely estimated that the remaining useful life at January 1, 2011 is 15 years.Its unamortized cost on Baden's accounting records was $150,000; the patent had been amortized for 5 years by Baden.How much should be amortized for the year ended December 31, 2011 by Ely Co.?

A) $0.
B) $15,000.
C) $20,000.
D) $30,000.