Fields Laboratory holds available patent No. 758-6002-1A on a precipitator that prevents certain types of air pollution, Fields does not manufacture or the products and process it develops. Instead it conducts research and develops products and processes which it patents and then assigns the patents to manufactures on a royalty basis. Occassionally it sells a patent . The history of Fields patent # 758-6002-1A is as follows. Date 2001-2002: Research conducted to developprecipitator:384,000. Date Jan. 2003: Design And Construction of a prototype: 87600. Date March 2003: Testing of Models : 42,000.Date Jan. 2004: Fees paid engineers and lawyers to prepare patent application ; patent granted June 30, 2000.:59,500. Date Nov 2005:Engineering Activity necessary to advance the design of the precipitator to the manufacturing stage:81,500.Date Dec 2006: Legal fees paid to successfully defend precipitator patent:42,000. Date May 2007 : Research and modifying the design of the patented precipitator :49,000. Date July 2011: Leagal fees paid in unsuccessful patent infringement suit against competitor: 34,000. Based on execution of a royalty contract in March 2007, the patent is deemed to be economically viable. Fields assumed a useful life of 17 years when it received the initial precipitator patent . On January 1, 2009, it revised its useful life estimate downward to 5 remaining years. Amortization is computed July 1, and no amortization for the year if the cost is incurred after June 30, The Company's year ends December 31. Question; 1.) The carrying value of patent number 758-6002-1A on Dec 31,2004. 2.) The carrying value of patent number 758-6002-1A on Dec. 31, 2008. 3.)The carrying value of patent number 758-6002-1A on Dec 31, 2011. Choices are 60,000;59,000;150,000;50,000;130,000;48,000;120,000.