Munn Inc. purchased a patent from Grey Company on January 2 of Year 1 when the remaining legal life was 16 years. The patent is reported as a noncurrent asset on December 31 of Year 2 as follows.

Patent	$230,400
Less accumulated amortization	28,800
Net patent	$201,600

On January 2 of Year 3, Munn determined that the remaining useful life of the patent was only six more years. Determine the carrying value of the patent on (1) December 31 of Year 3 and on (2) December 31 of Year 4.

1. Carrying value on December 31, Year 3 $Answer 2. Carrying value on December 31, Year 4 $Answer