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Marigold Industries has the following patents on its December 31,2024 , balance sheet. The following events occurred during the year ended December 31,2025. 1. Research
Marigold Industries has the following patents on its December 31,2024 , balance sheet. The following events occurred during the year ended December 31,2025. 1. Research and development costs of $232,000 were incurred during the year 2. Patent D was purchased on July 1 for $30,438. This patent has a useful life of 91/2/2 year: 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 31,202.5. The controller for Marigold 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 Marigold's patents on its December 31; 2024, balance sheet (Round answer to O decimal places,eg. 5,125.) Total carrying amount
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