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26. ELO Corporation purchased a patent for $135,000 on September 1, 2019. It had a useful Life of 10 years. On January 1, 2021, ELO

26. ELO Corporation purchased a patent for $135,000 on September 1, 2019. It had a useful Life of 10 years. On January 1, 2021, ELO spent $33,000 successfully defending the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021

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