Janes Company provided the following information on intangible assets: A patent was purchased from the Lou Company for $1,100,000 on January 1, 2022. 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 $430,000 when Lou sold it to Janes. During 2024, a franchise was purchased from the Rink Company for $580,000. The contractual life of the franchise is 10 years and Janes records a full year of amortization in the year of purchase. Janes incurred research and development costs in 2024 as follows: Materials and supplies $ 148,000 Personnel 188,000 Indirect costs 68,000 Total $ 404,000 Effective January 1, 2024, based on new events that