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What amount should Sherwood charge

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Problem - Sherwood Corporation incurred $68,000 of R&D costs in its laboratory to develop a patent that was granted on January 2, 2019. Legal fees and other costs associated with registration of the patent totaled $13,600. Sherwood estimates that the economic life of the patent will be 8 years. What amount should Sherwood charge to patent amortization expense for the year ended December 31, 2019?

Reference no: EM132887300

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