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14. Lynne Thompson Company incurred research and development costs of 580.00 and legal fees of $40,000 to acquire a patent. The patent has a legal

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14. Lynne Thompson Company incurred research and development costs of 580.00 and legal fees of $40,000 to acquire a patent. The patent has a legal life of 20 years and a weful life of 25 years. What amount should Thompson record as Patent Amortization Expense in the Time year? a, 0 b. 1600 c. 2000 d. 4800 15. Should the following intangible assets be amortized? Trademark Yes No Yes Copyright Yes Yes No No Goodwill No No No Yes

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