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Cullumber Company incurred research and development costs of $89000 to develop a patent, and legal fees of $29000 to register the patent. The patent has
Cullumber Company incurred research and development costs of $89000 to develop a patent, and legal fees of $29000 to register the patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Cullumber record as Patent Amortization Expense in the first year if the straight-line method is used? $5900$2900$11800$0
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