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How much amortization expense should Corp record

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Question - Corp has a patent that was purchased on 1/1/17 for $20,000. The patent has a 10-year useful life, no salvage value, and has been appropriately amortized at $2,000 a year for the past 3 years. On 1/1/20, Corp incurred $10,500 in legal fees to successfully defend the patent. If Corp's estimate of patent's useful life and salvage value have not changed, how much amortization expense should Corp record for the patent in 2020?

Reference no: EM132593552

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