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eBook Using the following unrelated situations. A. A patent with a 10-year remaining legal life was purchased for $288,000. The patent will be usable for another 8 years. B. A patent was acquired on a new smartphone. The cost of the patent itself was only $19,800, but the market value of the patent is $650,000. The company expects to be able to use this patent for all 18 years of its life. Calculate the annual amortization expense. A. $ B. $ Prepare a journal entry to record the expense. If an amount box does not require an entry, leave it blank. A. Amortization Expense Patent B. Amortization Expense Patent