Flint Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution. Flint does not manufacture or sell the products and processes it develops. Instead, it conducts research and develops products and processes which it patents, and then assigns the patents to manufacturers on a royalty basis. Occasionally it sells a patent. The history of Flint patent number 758-6002-1A is as follows.

CALCLOR STANDARD VIEW Problem 12-02 PR VERSION BACK NEXT Your answer is partially correct. Try again. Flint Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution. Flint does not manufacture or sell the products and processes it develops. Instead, it conducts research and develops products and processes which it patents, and then assigns the patents to manufacturers on a royalty basis. Occasionally it sells a patent. The history of Flint patent number 758-6002-1A is as follows. Date Activity Cost 2011-2012 Research conducted to develop precipitator $376,000 Jan. 2013 Design and construction of a prototype 86,800 March 2013 Testing of models 51,800 Jan. 2014 Fees paid engineers and lawyers to prepare patent application; patent granted June 30, 2014 56,100 Nov. 2015 Engineering activity necessary to advance the design of the precipitator to the manufacturing stage 87,500 Dec. 2016 Legal fees paid to successfully defend precipitator patent 51,800 April 2017 Research aimed at modifying the design of the patented precipitator 52,800 July 2021 Legal fees paid in unsuccessful patent infringement sult against a competitor 31,000 Flint assumed a useful life of 17 years when it received the initial precipitator patent. On January 1, 2019, it revised its useful life estimate downward to 5 remaining years. Amortization is computed for a full year if the cost is incurred prior to July 1, and no amortization for the year if the cost is incurred after June 30. The company's year ends December 31. Compute the carrying value of patent No. 758-6002-1A on each of the following dates: (a) December 31, 2014 52800 (b) December 31, 2018 74200 $ (c) December 31, 2021 29680 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT