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Find the least amount of amortization that could be recorded

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Question - A company acquires a patent for a drug with a remaining legal and useful life of six years on January 1, 2019 for $2520000. The company uses straight-line amortization for patents. On January 2, 2021, a new patent is received for a timed-release version of the same drug. The new patent has a legal and useful life of twenty years. Find the least amount of amortization that could be recorded in 2021?

a. $420000.

b. $114545.

c. $84000.

d. $96600.

Reference no: EM132643539

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