During the year, Cactus Company spent $250,000 on research and development costs that led to the development of a patent for a new product that was registered on July 1st. Cactus paid $15,000 in legal fees to register the patent. The patent has a legal life of 20 years and a useful life of 6 years. What is the amount of amortization expense Cactus will record this year? Group of answer choices $13,250 $26,500 $2,500 $1,250