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4 pts Question 27 Kent Company purchased a patent on Jan 1, 2013 for $180,000. On the date of purchase, Kent estimated the patent had
4 pts Question 27 Kent Company purchased a patent on Jan 1, 2013 for $180,000. On the date of purchase, Kent estimated the patent had a remaining useful life of 10 years. On January 1, 2014, Kent successfully defends the patent at a cost of $81,000, extending the patent's life to December 31, 2025 (12 years remain) What amount of amortization expense would Kent record as of December 31, 2014 $18,000 $20,250 $27,000 $21,750 Next
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