M10 In Class Worksheet Intangibles During 2021, Techy Inc creates an app called RoboDeath that will crash the servers of robocallers. Techy pays its developers salaries and benefits totalling $2,500,000 to create the app. Techy pays it lawyers $300,000 to file the patent on the app. Techy pays $150 in filling fees related to the patent application. On December 31, 2021, the patent is approved. As of December 31, 2021 what is the remaining useful life of the patent? Which of Techy's expenses can be capitalized on the balance sheet as an intangible asset? Calculate annual amortization expense: Cast: Useful Life Annual Amortization Expense Prepare the Journal entry to record one year of amortization expense. DR: CR What is the Net Book Value (NBV) of the patent on December 31, 2025? Cost: Less Accumulated Amortization NBV