Ely Co. bought a patent from Baden Corp. on January 1, 2015, for $600,000. An independent consultant retained by Ely estimated that the remaining useful life at January 1, 2015 is 15 years. Its unamortized cost on Badens accounting records was $300,000; the patent had been amortized for 5 years by Baden. How much should be amortized for the year ended December 31, 2015 by Ely Co.? $0. $30,000. $40,000. $60,000.