1) Lane Company purchased equipment for $280,000 on January 1, 20x4. The equipment had an eight-year useful life, a salvage value of $40,000, and was depreciated using the straight-line method. In August 20x7, Lane questioned the recoverability of the carrying amount of this equipment. At August 31, 20x7, the expected net future cash inflows (undiscounted) related to the continued use and eventual disposal of the equipment, total $175,000. The equipment's fair value on August 31, 20x7, is $150,000. After any loss on impairment has been recognized, what is the carrying value of Lane's equipment as of August 31, 20x7? A) $175,000 B) $170,000 C) $150,000 D) $130,000 2) During the year just ended, Case Co. incurred research and development costs of $136,000 in its laboratories relating to a patent that was granted on July 1. Costs of registering the patent equaled $34,000. The patent's legal life is 20 years, and its estimated economic life is years. In its December 31, balance sheet, what amount should Case report for the patent, n of accumulated amortization? A) 30,600 B) $ 32,300 c) 33,150 D) $161,500