Current Attempt in Progress The intangible assets section of Tamarisk, Inc.'s balance sheet at December 31, 2022, is presented here. Patents ($81,000 cost less $8,100 amortization) Copyrights ($42,200 cost less $29,540 amortization) $72,900 12,660 Total $85,560 The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in January 2016 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023. Jan. 2 Jan.-July Sept. 1 Oct. 1 Paid $27,000 legal costs to successfully defend the patent against infringement by another company. Developed a new product, incurring $131,000 in research and development costs during February. A patent was granted for the product on July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $20,000. Paid $46,000 to a quarterback to appear in commercials advertising the company's products. The commercials aired in September. Acquired a copyright for $149,000. The copyright has a useful life and legal life of 50 years.