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A company purchased a patent for $100,000 at the beginning of the current year which it believes has an expected useful life of 5 years.

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A company purchased a patent for $100,000 at the beginning of the current year which it believes has an expected useful life of 5 years. Fortunately, the patent has a legal life of 20 years. How much amortization expense should be recorded in the current year? a. $100,000 b. $20,000 c. $0 d. $5,000

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