1. Compute the total carrying amount of Metlock's patents on its December 31, 2025 balance sheet. (2024 carrying amount is $56,994.)

Metlock Industries has the following patents on its December 31, 2024, balance sheet. The following events occurred during the year ended December 31, 2025. 1. Research and development costs of $238,000 were incurred during the year. 2. Patent D was purchased on July 1 for $44,346. 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, 2025. The controller for Metlock estimates the expected future cash flows from Patent B will be as follows. The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)