Basic Company incurred the following costs during $2022$:

a$.$ Research and development costs of $$20,000$ were incurred. The research was conducted to discover a new

product to sell to customers in future years. A product was successfully developed, and a patent for the

new product was granted during $2022.$ Basic is unsure of the period benefited by the research but believes

the product will result in an increase in sales over the next five years.

b$.$ Legal costs and application fees of $$10,000$ for the patent were incurred on January $1,2022.$ The patent

was granted for a life of $20$ years.

c$.$ A patent infringement suit was successfully defended at a cost of $$8,000.$ Assume that all the costs were

incurred on January $1,2023.$

The book value of the patent on December $31,2023$ is:

A$.$ $$13,500$

B$.$ $$16,579$

C$.$ $$12,000$

D$.$ $$24,000$

E$.$ $$34,579$