CMC records depreciation and amortization expense annually. They do not use an accumulated amortization account. (i.e. Amortization Expense is recorded with a debit to Amort. Exp and a credit to the Patent.) Annual depreciation rates are 5% for Buildings/Equipment/Furniture, no salvage. (Round to the nearest whole dollar.) Annual Amortization rates are 10% of original cost, straight-line method, no salvage. CMC owns two patents: Patent #FJ101 has an original cost of $154,000 and Patent #CQ510 was acquired for $169,000. The last time depreciation & amortization were recorded was December 31, 20x0.

A. If CMC had been using an Accumulated Amortization account to record the sum of all years amortization expense, what would the company have reported for Accumulated Amortization at Dec 31, 20x1?

(when recording your answer, do not use a dollar sign or comma.)

B. Using your answer for Accumulated Amortization on the Patents, determine the following:

What is the approximate remaining useful life of the Patents? (round your answer to 1 decimal place. If your answer is 10.2143 years, record your answer as 10.2