ek $8($Chp $11)($i$)$

On January $1,2024,$ a company purchased a patent for $$294,000$ giving it exclusive rights to manufacture a new type of synthetic clothing. While the patent had a remaining legal life of $15$ years at the time of purchase, the company expects the useful life to be only eight more years. In addition, the company purchased equipment related to production of the new clothing for $$146,000.$ The equipment has a physical life of $10$ years, but the company plans to use the equipment only over the patent's service life and then sell it for an estimated $$20,000.$ The company uses straight$-$line for all long$-$term assets. The amount to expense in $2027$ related to the patent and equipment should be: