1. On January 1, 2025, Bridgeport signed an agreement to operate as a franchisee of Hsian Copy Service, Inc. for an initial franchise fee of $50,000. Of this amount, $10,000 was paid when the agreement was signed, and the balance is payable in 4 annual payments of $10,000 each, beginning January 1,2026 . The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at January 1,2025, of the 4 annual payments discounted at 9% (the implicit rate for a loan of this type) is $32,400. The agreement also provides that 6% of the revenue from the franchise must be paid to the franchisor annually. Bridgeport's revenue from the franchise for 2025 was $840,000. Bridgeport estimates the useful life of the franchise to be 10 years. (Hint: You may want to refer to Chapter 18 to determine the proper accounting treatment for the franchise fee and payments.) 2. Bridgeport incurred $80,000 of experimental and development costs in its laboratory to develop a patent that was granted on January 2, 2025. Legal fees and other costs associated with registration of the patent totaled $25,600. Bridgeport estimates that the useful life of the patent will be 8 years. 3. A trademark was purchased from Shanghai Company for $50,000 on July 1,2022 . Expenditures for successful litigation in defense of the trademark totaling $10,200 were paid on July 1,2025. Bridgeport estimates that the useful life of the trademark will be 20 years from the date of acquisition. Prepare a schedule showing the intangible assets section of Bridgeport's balance sheet at December 31, 2025