For each of the following unrelated situations, calculate the annual amortization expense:

a. A patent with a 15-year remaining legal life was purchased for $1,071,000. The patent will be commercially exploitable for another seven years.

b. A patent was acquired on a device designed by a production worker. Although the cost of the patent to date consisted of $152,280 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 $1,296,000.

c. A franchise granting exclusive distribution rights for a new wind turbine within a three-state area for four years was obtained at a cost of $119,520. Satisfactory sales performance over the four years permits renewal of the franchise for another four years (at an additional cost determined at renewal)

a: $

b. $

c.$