Granite Enterprises acquired a patent from Southern Research Corporation on January 1, 2021, for $4.7 million. The patent will be used for five years, even though its legal life is 20 years, Rocky Corporation has made a commitment to purchase the patent from Granite for $240,000 at the end of five years. Compute Granite's patent amortization for 2021, assuming the straight-line method is used. Multiple Choice $446,000 O $940,000 $892.000 $470,000