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What amount should the company charge to patent

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Question - Black Inc. incurred P816,000 of research and development costs in its laboratory to develop a product and have it patented. The patent was granted on January 02, 2020. Costs of PI 52,000 were incurred in the registration of the patent. The estimated economic life of the patent is 8. What amount should the company charge to patent amortization expense for the year ended December 31, 2020?

Reference no: EM132944492

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