Jones Corporation purchased a patent for $600,000 on September 1, 2014. It had a useful life of 10 years. On January 1, 2016, Jones spent $120,000 to successfully defend the patent in a lawsuit. Jones feels that as of that date, the remaining useful life is 4 years. What amount should be reported for patent amortization expense for 2016? $130,000 $180.000. O $90.000 O $160.000. Question 2 1 pts Rich Company purchased a patent on January 1, 2015 for $600,000. The patent had a remaining useful life of 10 years at that date. In January of 2016, Rich successfully defends the patent at a cost of $270,000, extending the patent's life to 12/31/27. What amount of amortization expense would Rich record in 2016? $60,000 $72.500 0 $67,500 0 $90,000 Question 3 1 pts Rosen Company's 12/31/16 balance sheet reports assets of $12,000,000 and liabilities of $5,000,000. All of Rosen's assets' book values approximate their fair value, except for land, which has a fair value that is $800,000 greater than its book value. On 12/31/16, Hilton Corporation paid $12,200,000 to acquire Rosen. What amount of goodwill should Hilton record as a result of this purchase? O $ 200,000 O $ -0- O $4,400,000 O $5,200,000