Current Attempt in Progress

Kingbird Industries has the following patents on its December $31,2024,$ balance sheet:

The following events occurred during the year ended December $31,2025.$

Research and development costs of $$361,400$ were incurred during the year.

Patent $D$ was purchased on July $1$ for $$11,520.$ This patent has a useful life of $12$ years.

As a result of reduced demands for certain products protected by Patent B$,$ a possible impairment of Patent B$\text{'}$s value may

have occurred at December $31,2025.$ The controller for Kingbird estimates the 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.$)$

compute the total carrying amount of kingbirds patent on december $31,2024$ balance sheet