Kingbird Industries has the following patents on its December 31, 2016, balance sheet.

he following events occurred during the year ended December 31, 2017.

1.		Research and development costs of $241,000 were incurred during the year.
2.		Patent D was purchased on July 1 for $45,372. This patent has a useful life of 91/2 years.
3.		As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent Bs value may have occurred at December 31, 2017. The controller for Kingbird estimates the expected future cash flows from Patent B will be as follows.

The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.)

Compute the total carrying amount of Kingbird patents on its December 31, 2016, balance sheet. Total Carrying Amount = ?

Compute the total carrying amount of Kingbird' patents on its December 31, 2017, balance sheet. (Round answer to 0 decimal places, e.g. 8,564.) Total Carrying Amount = ?

Initial Date Patent Acquired Cost $43,044 Patent A $16,320 7/1/14 Patent B Patent C $19,680 9/1/15 Useful Life at Date Acquired 17 years 10 years 4 years