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Ivanhoe Corporation purchased a patent for $390000 on September 1, 2016. It had a useful life of 10 years. On January 1, 2018, Ivanhoe spent

Ivanhoe Corporation purchased a patent for $390000 on September 1, 2016. It had a useful life of 10 years. On January 1, 2018, Ivanhoe spent $96000 to successfully defend the patent in a lawsuit. Ivanhoe feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2018? $89400. $81600. $86800. $67600.

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