Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of 4 years, or 25,000 operating hours, and a residual value of $15,000. Compute the depreciation for the last six months of the current fiscal year ending December 31 by each of the following methods: (a) straight-line (b) declining-balance at twice the straight-line rate (c) units-of-production (used for 1, 600 hours during the current year) (Round the answer to the nearest dollar.) Prepare the following journal entries and calculations: (a) A patent that was acquired for $410,000 at the beginning of current year expires in 15 the years and is expected to have value for 4 years. Present the adjusting entry to amortize the patent for the current year. (b) Mineral rights on an ore deposit estimated at 4,000,000 tons of ore were acquired for $2, 800,000. Present the adjusting entry to record depletion for the current year, during which 350,000 tons of ore were removed. (c) Legal costs incurred to defend the rights that a patent provided were $60,000. At the time the patent had been in existence for 5 years. Determine the amount to be amortized for the current fiscal year