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38. Kosciuszko Corporation purchased a patent for $405,000 on September 1, 2016. It had a useful life of 10 years. On January 1, 2018, Kosciuszko
38. Kosciuszko Corporation purchased a patent for $405,000 on September 1, 2016. It had a useful life of 10 years. On January 1, 2018, Kosciuszko spent $99,000 to successfully defend the patent in a lawsuit. Kosciuszko feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2018? A) $92,700. B) $90,000. C) $84,600 D) $70,200
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