Stetson company paid 160000 to obtain a patent stetson

Reference no: EM13569774

Stetson Company paid $160,000 to obtain a patent. Stetson expected to use the patent for 5 years before it became technologically obsolete. Based on this information, the amount of amortization expense on the December 31, 2014 income statement and the book value of the patent on the December 31, 2014 balance sheet would be.

Reference no: EM13569774

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