Blossom Company incurred research and development costs of $98000 and legal fees of $38000 to acquire a
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Question:
Blossom Company incurred research and development costs of $98000 and legal fees of $38000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Blossom record as Patent Amortization Expense in the first year?
a) $ 3800.
b) $ 6800.
c) $ 13600.
d) $ 0.
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