20 On June 30, 2016, Mobley Corporation acquired a patent for $420 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 $670,000 Ints 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-. 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 3 00410 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Reg 4 Reg 48 Calculate patent amortization for 2016 and 2017. (Enter your answer in dollars, not millions of dollars.) 2016 2017 Amortization Reg 2 >