In early January 2019, Oriole Corporation applied for a patent, incurring legal costs of $91,000. In January 2020, Oriole incurred $22,320 of legal fees in a successful defense of its patent.

Compute 2019 amortization, 12/31/19 carrying amount, 2020 amortization, and 12/31/20 carrying amount if the company amortizes the patent over 10 years.

2019 amortization		$
12/31/19 carrying value		$
2020 amortization		$
12/31/20 carrying value		$

Compute the 2021 amortization and the 12/31/21 carrying amount, assuming that at the beginning of 2021, based on new market research, Oriole determines that the fair value of the patent is $95,760. Estimated future cash flows from the patent are $99,960 on January 3, 2021.

2021 amortization		$
12/31/21 carrying value		$