Granite Enterprises acquired a patent from Southern Research Corporation on January 1,2024 , for $3.2 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 $210,000 at the end of five years. Assuming the straightline method is used, what is Granite's patent amortization for 2024? Multiple Choice $640,000 $598,000 $299,000 $320,000