Multiple Choice
Rinky-Dink Inc.incurred research and development costs of $200,000 and legal fees of $100,000 to acquire a patent.The patent has a legal life of 20 years and a useful life of 10 years.What amount should the company record as patent amortization expense in the first year?
A) $10,000
B) $15,000
C) $20,000
D) $30,000
Correct Answer:
Verified
Correct Answer:
Verified
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