Amortization Expense For each of the following unrelated situations, calculate the annual amortization expense: a. A patent with a 15-year remaining legal life was purchased for $833,000. The patent will be commercially exploitable for another seven years. b. A patent was acquired on a device designed by a production worker. Although the cost of the patent to date consisted of $118,440 in legal fees for handling the patent application, the patent should be commercially valuable during its entire remaining legal life of 18 years and is currently worth $1,008,000. C. A franchise granting exclusive distribution rights for a new wind turbine within a three-state area for four years was obtained at a cost of $92,960. Satisfactory sales performance over the four years permits renewal of the franchise for another four years (at an additional cost determined at renewal) Annual expense a $ b $ C $