Information concerning Ashley Corporations intangible assets are as follows:

(a) On January 1, 2021, Ashley signed an agreement to operate a franchise for an initial franchise fee of P85,000. Of this amount, P25,000 was paid when the agreement was signed and the balance is payable in four annual payments of P15,000 each beginning January 1, 2022. The present value at January 1, 2021, of the four annual payments discounted at 14% (the implicit rate for a loan at this type) is P43,700. The agreement also provides that 5% of the revenue from the franchise must be paid to the franchisor annually. Ashleys revenue from the franchise for 2021 was P900,000. Ashley estimates the useful life of the franchise to be ten years.

(b) Ashley incurred P78,000 of experimental and development costs in its laboratory to develop a patent which was granted on January 2, 2021. Legal fees and other costs associated with registration of the patent totaled P48,000. Ashley estimates that the useful life of the patent will be eight years.

How much is the amortization of franchise?

How much is the amortization of patent?

How much is the unamortized cost of franchise at December 31, 2021?

How much is the unamortized cost of patent at December 31, 2021?