19. On June 30, 2016, Mobley Corporation acquired a patent for $4.10 million. The patent was estimated to have an eight-year life and no residual value. Mobley uses the straight-line method of amortization for intangible assets. At the beginning of January 2018, Mobley successfully defended its patent against infringement. Litigation costs totaled $660,000.

Required: 1. Calculate patent amortization for 2016 and 2017.

2. Prepare the journal entry to record the 2018 litigation costs.

3. Calculate amortization for 2018.

4-a. Prepare the journal entry to record the 2018 litigation costs and calculate amortization for 2018, assuming that Mobley prepares its financial statements according to International Financial Reporting Standards (IFRS).

4-b. Calculate amortization for 2018 under IFRS.