Bullwinkle Co$.$ accquied an adjacent vacant lot with the hope of selling it in the future at a gain. The lot is not intended to be used in Bullwinkle's business operations. Where should such real estate be listed on the balance sheet?

$($a$).$ Over what period of time should the cost a patent acquired by purchase be amortized? $($b$)$ In general, what is the required accounting treatment for research, and development costs? $($c$)$ How should goodwill be amortized?

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