answer to those two exercise + quick explantions please no handwritings

E34B. Revision of Depreciation Associated Clinic purchased a special machine for use in its laboratory on LO January 2, 2013. The machine cost $98,000 and was expected to last 10 years. Its salvage value was estimated to be $6,000. By early 2015, it was evident that the machine will be useful for a total of only seven years. The salvage value after seven years was estimated to straight-line depreciation. Compute the be $7,500. Associated Clinic uses proper depreciation expense on the machine for 2015. 05 E9-8B. Amortization Expense For each of the following unrelated situations, calculate the annual amoniz tion expense and prepare a journal entry to record the expense: a. A patent with a 15-year remaining legal life was purchased for $756,060 The patent will e com mercially exploitable for another seven years. b. A patent was acquired on a device designed by a production worker. Although the cost of te patent to date consisted of $88,200 in legal fees for handling the patent application, the pent should be commercially valuable during its entire remaining legal life of 18 years and is curtin worth $720,000. c. A franchise granting exclusive distribution rights for a new wind turbine within a three tae te the four yers for four years was obtained at a cost of $68,800. Satisfactory sales performance over permits renewal of the franchise for another four years (at an additional cost determined a