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Intel Corporation acquires a patent for $4,000,000. The patent has a useful life of 20 years. Compute the annual amortization expense using the straight-line method.

·Intel Corporation acquires a patent for $4,000,000. The patent has a useful life of 20 years. Compute the annual amortization expense using the straight-line method. Additionally, calculate the book value of the patent at the end of year 10.

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