On September 30, 2022, Leeds LTD. acquired a patent in conjunction with the purchase of another company. The patent, valued at $6 million, was estimated to have a 10-year life and no residual value. Leeds uses the straight-line method of amortization for intangible assets. At the beginning of January 2024, Leeds successfully defended its patent against infringement. Litigation costs totaled $500,000.

Required:
1. Calculate amortization of the patent for 2022 and 2023.
2. Prepare the journal entry to record the 2024 litigation costs.
3. Calculate amortization for 2024.
4. Repeat requirements 1–3, assuming that Leeds prepares its financial statements according to IFRS.