Carter Research Corporation registered a patent with the U.S. Patent and Trademark Office. The total cost of obtaining the patent was $220,000. Although the firm believes the patent will be useful for only 12 years, it has a legal life of 24 years. What will Carter Research Corporation record for its annual amortization expense? Show how it would be recorded in the accounting equation What will Carter Research Corporation record for its annual amortization expense? (Round to the nearest dollar.) = Annual amort. expense