The amount of amortization expense on the december

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Reference no: EM131959286

On January 1, 2014, Sanchez Company paid $168,000 to obtain a patent. Sanchez 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: EM131959286

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