Hudson Corporation created a technology in the year 2008 and got it patented. The legal cost for getting the patent was $60,000. The useful life of the patent is 10 years. The company was acquired by Meditech on January 1, 2012. The fair value of the patent on the date on acquisition was $300,000. Determine the amount paid by Meditech towards patent on acquisition. Group of answer choices

$60,000

$24,000

$36,000

$300,000

$-0-