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What is the total amount that should be capitalized

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Question - Umber Company incurred P1,600,000 of research and development costs to develop a product for which a patent was granted at the beginning of the current year. Legal fees and other costs associated with registration of the patent totaled P450,000. At year-end, the entity paid P550,000 for legal fees in a successful defense of the patent. What is the total amount that should be capitalized for the patent at year-end?

Reference no: EM133103456

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