As part of your engagement to the audit of Karen Company financial statements you had the following transactions of its patent account:

Date	Debit	Credit
January 1, 2014	Php 500,000
January 1, 2016	Php 240,000
January 1, 2017	Php 200,000
January 1, 2018	Php 100,000
December 31, 2018		Php 1,040,000

Additional information:

• The balance on January 1, 2014 reflects the amount debited to the account when it acquired a patent from an unrelated company for Php 500,000. Karen Company estimates that the patent has a remaining useful life of 10 years
• On January 1, 2016, Karen Company debited the patent account when it acquired a competitive patent from Klaire Company for Php 240,000 in order to protect the old patent. The competitive patent has a remaining legal life and useful life of 16 years
• On January 1, 2017, Karen Company debited the patent account when it acquired a related patent from Karissa Company for Php 200,000. The related patent extended the useful life of the old and competitive patent for 20 years.
• On January 1, 2018, Karen Company debited the patent account when it incurred litigation cost of Php 100,000 in an unsuccessful defense of the patent held
• No amortization has yet been recognized by the company

Required: Based on the above, answer the following:

1. How much is the amortization for 2014?
2. How much is the amortization for 2016?
3. How much is the carrying value of the patent on December 31, 2016?
4. How much is the amortization for 2017?
5. How much is the loss on patent written off in 2018?