Harrel Company acquired a patent on an oil extraction technique on January 1.2020 for $7.500,000. It was expected to have a 10 year life and no residual value. Harrel uses straight-line amortization for patents. On December 31, 2021. the future cash flows expected from the patent were $900,000 per year for the next eight years. The present value of these cash flows, discounted at Harrel's market interest rate.is $4,200,000. At what amount should the patent be carried on the December 31, 2021 balance sheet? a) $7,200,000 b) $6,000,000 OC) $4,200,000 O d) $7,500,000