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A patent was purchased from Marin Company for $ 1 , 7 5 0 , 0 0 0 on January 1 , 2 0 2

A patent was purchased from Marin Company for $1,750,000 on January 1,2024. Cullumber estimated the remaining useful life of the patent to be 10 years. The patent was carried in Marin's accounting records at a net book value of $1,750,000 when Marin sold it to Cullumber.

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