For each of the following unrelated situations, calculate the annual amortization expense and prepare a journal entry to record the expense:

A patent with a $15-$year remaining legal life was purchased for $$261,000.$ The patent will be commercially exploitable for another nine years.

A patent was acquired on a device designed by a production worker. Although the cost of the patent to date consisted of $$38,700$ in legal fees for handling the patent application, the patent should be commercially valuable during its entire remaining legal life of $18$ years and is currently worth $$378,000.$

A franchise granting exclusive distribution rights for a new solar water heater within a three$-$state area for four years was obtained at a cost of $$59,000.$ Satisfactory sales performance over the four years permits renewal of the franchise for another four years $($at an additional cost determined at renewal$).$