Australia Mining purchased equipment costing $100,000 on January 1, 2018. The equipment has a four-year useful life, $16,000 salvage value, and is being depreciated using the straight-line method. It was sold at a $25,000 loss on June 30, 2020. The selling price of the equipment was Question 39 2 pts Sally Corporation incurred $630,000 of research and development costs to produce a high technology solar computer, paid filing fees of $40,000 to register a patent on this product, and paid $440,000 to defend the patent against infringement by a competitor. All of these costs were incurred in 2019. Production of solar computers began on January 1, 2020. Assuming the patent has a useful life of 20 years, patent expense for 2020 is