Janes Company provided the following information on intangible assets: a. A patent was purchased from the Lou Company for $750,000 on January 1, 2011. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lous accounting records at a net book value of $360,000 when Lou sold it to Janes. b. During 2013, a franchise was purchased from the Rink Company for $510,000. The contractual life of the franchise is 10 years and Janes records a full year of amortization in the year of purchase. c. Janes incurred research and development costs in 2013 as follows: Materials and supplies $ 141,000 Personnel 181,000 Indirect costs 61,000 Total $ 383,000 d. Effective January 1, 2013, based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years.