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What the amortization of the patent should be

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Reference no: EM132765515

Problem 1: During 2015, Fides Design Company spent 220,000 on research and development costs for a new product. This product was patented January 1, 2016, at a small cost that was expensed in 2016. The patent had a legal life of 17 years and an estimated useful life of 8 years. In January 2020, Fides paid 20,000 for legal fees in successful defense of the patent. The amortization of the patent for 2020 should be:

Option 1: 0-
Option 2: 5,000
Option 3: 27,500
Option 4: 32,500

Reference no: EM132765515

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