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( ### 1 6 ) No chat gpt answers & don't copy from chegg or else I'll give 5 downvotes A company acquires a patent
###No chat gpt answers & don't copy from chegg or else I'll give downvotes
A company acquires a patent with a legal life of years but expects a useful life of only years.
The company also incurred $ in legal costs to defend the patent.
How should these costs be accounted for?
A The patent and legal costs should both be expensed immediately
B The patent should be amortized over years, and legal costs expensed immediately
C The patent should be amortized over years, and legal costs expensed immediately
D The patent should be amortized over years, and legal costs capitalized
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