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What amount should company a report

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Question - On October 1, 2020, Company A purchased a patent for a new drug for $7,200,000. Due to the competitive nature of the product, the patent was estimated to have a useful life of 10 years with no residual value. On January 1, 2023, Company A spent $200,000 in legal fees for a successful defense of the patent. What amount should Company A report approximately as amortization expense for 2023?

Reference no: EM133149654

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