Bluestone Company had three intangible assets at the end of the current year:

a.A patent purchased this year fromMiller Co. on January 1 for a cash cost of $4,200. When purchased, the patent had an estimated life of 14 years.

b.A trademark was registered with the federal government for $3,000. Management estimated that the trademark could be worth as much as $100,000 because it has an indefinite life.

c.Computer licensing rights were purchased this year on January 1 for $20,000. The rights are expected to have a four-year useful life to the company.