ABC Corporation Incurred $825,000 of research and development costs to develop a product for which a patent was granted on January 2. 2018. Legal fees and other costs associated with registration of the patent totaled $150,000. In 2018, the useful life of the patent was determined to be 15 years. On January 1, 2021, ABC paid $350,000 for legal fees in a successful defense of the patent. At that time the patent was determined to have a remaining useful life of 10 years. What amount of amortization expense would ABC record in 20217 The management of Taylor Inc. reviews certain equipment for possible impairment. This equipment has a cost of $800,000 with depreciation to date of $300,000 as of December 31, 2018. On December 31, 2018, management projected its future cash flows (undiscounted from this equipment to be $450,000 and its fair value to be $300,000. The company intends to use this equipment in the future. What is the impairment loss the company should record in 2018