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What amount will Solozzo record as the cost of the patent

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Reference no: EM132959175

Question - Solozzo Corporation spent $750,000 in 2019 developing a manufacturing process that it is sure will win a patent once the papers are filed. In 2020 Solozzo files for, and is granted, a patent. Legal fees associated with the 2020 filing were $100,000. What amount will Solozzo record as the cost of the patent?

Reference no: EM132959175

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