Compute the total carrying amount of Larkspur' patents on its December 31, 2016, balance sheet.(Round answer to 0 decimal places, e.g. 8,564.)

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Exercise 12-10 (Part Level Submission) Larkspur Industries has the following patents on its December 31, 2016, balance sheet. Patent Initial Date Useful Life at Date Item Cost Acquired Acquired Patent A $45,492 3/1/13 17 years Patent B $17,760 7/1/14 10 years Patent C $25,440 9/1/15 4 years The following events occurred during the year ended December 31, 2017. 1. Research and development costs of $253,000 were incurred during the year. Patent D was purchased on July 1 for $43,092. This patent has a useful life of 91/2 years. 3. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31, 2017. The controller for Larkspur estimates the expected future cash flows from Patent B will be as follows. Year EXpec-ted Future Cash Flows 2013 $2,050 2019 2,050 2020 2,050 The proper discount rate to be used for these ows is 5%. (Assume that the cash flows occur at the end ofthe year.) V (a) X Your answer is incorrect. Try again. Compute the total carrying amount of Larkspur' patents on its December 31, 2016, balance sheet. (Round answer to a decimal places, (-3.9. 8,564.) Total carrying amount