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Which of the following research and development related costs should be capitalized and depreciated over current and future periods? A) Research and development general laboratory building which can be put to alternative uses in the future B) Inventory used for a specific research project C) Administrative salaries allocated to research and development D) Research findings purchased from another company to aid a particular research project currently in process The costs of organizing a corporation include legal fees, fees paid to the state of incorporation, fees paid to promoters, and the costs of meetings for organizing the promoters. These costs are said to benefit the corporation for the entity's entire life. These costs should be A) capitalized and never amortized. B) capitalized and amortized over 40 years. C) capitalized and amortized over 5 years. D) expensed as incurred. Thompson Company incurred research and development costs of $100,000 and legal fees of $40,000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Thompson record as Patent Amortization Expense in the first year? A) $0. B) $ 4,000. C) $ 7,000. D) $14,000