Financial Accounting 3e by Puteau & Malhotra Class Lab Book Chapter 6 Homework b. $7,925 c. $11,850 d. $6,350 Topic covered in current section Report a rubim 3. Blue Co. purchased equipment on October 4, 20X1 at a cost of $63,000. The equipment has an estimated useful life of 4 years and an estimated salvage value of $3,000. Blue Co. uses the straight-line depreciation method. Blue Co.'s fiscal year-end is December 31. Assuming Blue Co. uses the half-year convention, what was the accumulated depreciation as of December 31, 20x27 (Round all results to the nearest whole dollar.) a. $30,000 b. $22,500 $15,000 d. $7,500 Topicovered in current section part a problem 4. Blue Co. purchased a patent from the inventor for $36,000 on March 1, 20x6. Blue Co.'s fiscal year end is December 31 each year. On the March 1, 20x6 purchase date, the remaining legal life of the patent was 6 years based on the original legal life of 20 years less 14 years since the patent was registered. Also on the March 1, 20x6 purchase date, the estimated remaining useful life of the patent for Blue Co.'s purposes is 3 years. Blue Co. amortizes patent costs in the year of acquisition for the portion of the year the patent was held. What is the patent's book or carrying value as of December 31, 20x77 $14,000 $12,000 80 23 $ 4 $22,000 d. $10,000 17 ID 95