Multiple Choice
Albritton Inc.bought a patent for $900,000 on January 2,2010,at which time the patent had an estimated useful life of ten years.On February 2,2014,it was determined that the patent's useful life would expire at the end of 2016.How much would Albritton record as amortization expense for this patent for the year ending December 31,2014?
A) $200,000
B) $180,000
C) $110,000
D) $90,000
Correct Answer:
Verified
Correct Answer:
Verified
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