exercise 12-10 Shamrock industries has the following patents on its December 31 2016, balance sheet part b

The proper discount rate to be used for these flows is 8%. ( Assume that the cash flows occur at the end of the year) (a) Your answer is correct Compute the total carryling amount of Shamrock' patents on its December 31, 2016, balance sheet (Round answer to 0 decimal places, eg. 8,564.) Total carrying amount 55290 SHOW ANSWER sasow SOLUTEON LINK TOTEX INK TO TEXT vmeo sMILAR ESERC Attempts: 1 of 3 used (b) Compute the total carrying amount of Shamrock' patents on its December 31, 2017, balance sheet. (Round answer to 0 decimal places, eg 8,564,) Total carrying amount CALCRATO PRINTER VE8SO Exercise 12-10 (Part Level Submission) Shamrock Industries has the following patents on its December 31, 2016, balance sheet. Patent Initial Useful Life at Date Acquired Date Item Cost Acquired Patent A $41,820 3/1/13 17 years Patent B 10 years $15,600 7/1/14 Patent C $16,800 9/1/15 4 years The following events occurred during the year ended December 31, 2017. 1. Research and development costs of $235,000 were Incurred during the year. 2. Patent D was purchased on July 1 for $45,372. This patent has a useful ife of 9/, years 3. As a result of reduced demands for certain products protected by Patent s, a possible impairment of Patent B's value may have occurred at December 31, 2017. The controller for Shamrock estmates the expected ure cash es Patent B will be as follows Expected Future Cash Flows Year $2,050 2018 2,050 2019 2,050 2020 dy The preper dscount rete to be used for these lows is 8% (Assume that the cash flows occur at the end of the vear) v(a) Compute the total carrying amount of Shamreck patents on its December 31, 2016, balance sheet. (Round anewer to 0 decimal paces, eg 8564,) Total carrying amount AE Attemete 0 of 3 wed m the part abeve