During the year, a company purchased a patent for $100,000 from another company that will extend the battery life of their main product sold. Additionally, the company spent $30,000 this year to internally develop a separate invention that they plan to patent once its complete. Which of the following statements is true?

$130,000 can be capitalized as patents

$30,000 should be expensed as research and development

$30,000 can be capitalized as a patent

$100,000 should be expensed as research and development