For each of the following items, indicate whether the costs should be capitalized or expensed immediately.

1. Purchased a patent for $10,000

2. Paid $19,500 to overhaul a drilling rig. The overhaul will extend the useful life by 3 years.

3. Paid $9000 for routine maintenance and lubrication of a tractor.

4. Paid $23,500 to install new equipment in the production line that will super-cool the product and allow for faster shipping of fresher merchandise

5. Equipment is purchased for $12,000 for a specific R&D project