A patent was purchased for $585,000 with a legal life of 20 years. Management estimates that the patent has a 12-year economic life. The entry to record amortization would include a. an increase in research and development expense for $585,000 b. a decrease in patent for $48,750 c. an increase in amortization expense for $29,250 d. an increase in accumulated amortization for $585,000