Brief Exercise 12-9 Metlock Industries had one patent recorded on its books as of January 1, 2017. This patent had a book value of $441,600 and a remaining useful life of 8 years. During 2017, Metlock incurred research and development costs of $95,000 and brought a patent infringement suit against a competitor. On December 1, 2017, Metlock received the good news that its patent was valid and that its competitor could not use the process Metlock had patented. The company incurred $102,000 to defend this patent. At what amount should patent(s) be reported on the December 31, 2017, balance sheet, assuming monthly amortization of patents? The amount to be reported Click if you would like to Show Work for this question: Open Show Work