Cullumber Industries has the following patents on its December 31, 2024, balance sheet. Patent Item Patent A Initial Cost Date Acquired Useful Life at Date Acquired $40,800 3/1/21 17 years Patent B $15.000 7/1/22 10 years Patent C $14,400 9/1/23 4 years The following events occurred during the year ended December 31, 2025 1 Research and development costs of $230,000 were incurred during the year 2 Patent Dwas purchased on July 1 for $25,650. This patent has a useful life of 9 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 Cullumber estimates the expected future cash flows from Patent B will be as follows. Year Expected Future Cash Flows 2026 $1,800 2027 1,800 2028 1.800 The proper discount rate to be used for these flows is 8% (Assume that the cash flows occur at the end of the year) Click here to view factor tables (a) Compute the total carrying amount of Cullumber's patents on its December 31, 2024, balance sheet. (Round answer to O decimal places eg. 5,125) Total carrying amount Save for Later Attempts: unlimited Submit