In January 2018 , Vega Corporation purchased a patent at a cost of $700,000. Legal and filing fees of $50,000 were paid to acquire the patent. The company estimated a 10-year useful life for the patent and uses the straight-line amortization method for all intangible assets. In January, 2021 , Vega spent $80,000 in legal fees for a successful defense of the patent. However, the total useful life was revised from 10 to 8 years. Please answer the following questions: 1. How much is the amortization expense 2018 ? 2. How much is the carrying value of the patent at the end of 2020 after the amortization is recorded for the year? 3.How much is the amortization on the patent in 2021? 4. The patent was sold on January 1 st, 2022 for $400,000. Please record the journal entry to show the sale