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How much is the loss from the patent obsolescence

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Reference no: EM132894061

Dragon Fruit Trading spent P1,440,000 in acquiring a patent on January 3, 2012. Due to the competitive nature of the product, the patent was estimated to have a useful life of 10 years. At the beginning of 2016, the company paid P180,000 for legal fees in a successful defense of the patent. On July 1, 2020, a competitor obtained rights to a patent which made Dragon Fruit's patent obsolete.

Problem 1: How much is the loss from the patent obsolescence?

a) P216,000
b) P243,000
c) P261,000
d) P396,000

Reference no: EM132894061

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