Desert Innovation had one patent recorded on its books as of January 1, 2017. This patent had a book value of $136,800 and a remaining useful life of 6 years. During 2017, Desert incurred research and development costs of $203,200 related to this patent and was sued by a competitor to nullify the patent. On September 1, 2017, the Court found that Deserts patent was valid and that its competitor could not use the process Desert had patented. The company incurred $60,800 to defend this patent. At what amount should patent(s) be reported on the December 31, 2017, balance sheet, assuming monthly amortization of patents?