3. A trademark was purchased from Shanghai Company for R$34,000 on July 1, 2019. Expenditures for successful litigation in defense of the trademark totaling R$13.600 were paid on July 1, 2022. Culver estimates that the useful life of the trademark will be 20 years from the date of acquisition. (a) 2. 3. 1 ncerning Culver SA's intangible assets is as follows. On January 1, 2022, Culver signed an agreement to operate as a franchisee of Hslan Copy Service for an Initial franchise fee of R$72,500. Of this amount, R$14,500 was paid when the agreement was signed, and the balance is payable in annual payments of R$14,500 each, beginning January 1, 2023. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at January 1, 2022, of the four annual payments discounted at 15% (the implicit rate for a loan of this type) is R$41,400. The agreement also provides that 5% of the revenue from the franchise must be paid to the franchisor annually. Culver's revenue from the franchise for 2022 was R$900,000. Culver estimates the useful life of the franchise to be 10 years. (Hint: You may want to refer to Chapter 18 to determine the proper accounting treatment for the franchise fee and payments) Culver incurred R$65,000 of experimental and development costs in its laboratory to develop a patent that was granted on January 2, 2022 Legal fees and other costs associated with registration of the patent totaled R$21.200. Culver estimates that the useful life of the patent will be 8 years. The patent has yet to achieve economic viability A trademark was purchased from Shanghal Company for R$34,000 on July 1, 2019. Expenditures for successful litigation in defense of the trademark totaling R$ 13,600 were paid on July 1, 2022. Culver estimates that the useful life of the trademark will be 20 years from the date of acquisition. Your answer is correct 20000