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How much is the annual amortization of the patent

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Problem - Netflix purchased a patent from Viu for P1,000,000. Netflix paid its lawyers, accountant, and consultant P300,000, P200,000, and P100,000, respectively. The patent has a remaining life of 8 years. According to Netflix's consultant, the patent's useful life spans 5 years because of extreme competition in the streaming services industry. How much is the annual amortization of the patent?

Reference no: EM132934884

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