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Ivanhoe Company incurred research and development costs of $90000 and legal fees of $30000 to develop a patent. The patent has a legal life of

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Ivanhoe Company incurred research and development costs of $90000 and legal fees of $30000 to develop a patent. The patent has a legal life of 20 years and a useful life of 10 years. What amount should Ivanhoe record as Patent Amortization Expense in the first year? $12000. $6000 $0. $3000

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