10. Lopez Corp. incurred $850,000 of research and development costs to develop a product for which a patent was granted on January 2, 2015. Legal fees and other costs associated with registration of the patent totaled $150,000. On March 31, 2018, Lopez paid $450,000 for legal fees in a successful defense of the patent. The total amount capitalized for the patent through March 31, 2018 should be a. $1,450,000. b. $1,300,000 c. $150,000 d. $500,000 e. None of the above. 11. On May 5, 2018, MacDougal Corp. exchanged 4,000 shares of its $20 par value common stock for a patent owned by Masset Co. At May 5, 2018, MacDougal's common stock was quoted at $40 per share, and the patent had a carrying value of $115,000 on Masset's books. MacDougal should record the patent at a. $90,000 b. $160,000 c. $80,000. d. $115,000 e. None of the above