10 . Alatorre purchased a patent from Vania Co . for S1 724 200 on January 1 2012 . The patent is being amortized over its remaining legal life of 10 years , expiring on January 1 2022 . During 2014 , Alatorre determined that the economic benefits of the patent would not last longer than 6 years from the date of acquisition . What amount should be reported in the balance sheet for the patent , net of accumulated amortization , at December 31 2014