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EB 1 1 . 1 1 . 4 The following intangible assets were purchased by Hanna Unlimited: A . A patent with a remaining legal

EB11.11.4 The following intangible assets were purchased by Hanna Unlimited: A. A patent with a remaining legal life of twelve years is bought, and Hanna expects to be able to use it for six years. It is purchased at a cost of $48,000. B. A copyright with a remaining life of thirty years is purchased, and Hanna expects to be able to use it for ten years. It is purchased for $70,000. Determine the annual amortization amount for each intangible asset.

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