-n 37 On 1/15/2020 Turbo, Corp bought a patent for $1,200,000 from Rebo Corp. There are 10 years remaining on the patent. The patent is the only asset purchased from that corporation. Also on January 1, Turbo purchased all of the assets under Section 197 from Hoorah. Included in the assets acquired is a patent worth $600,000 that has a 10-year remaining life. What is the allowable amortization deduction on the two patents? ed out of Select one: 7. a. $120,000 b. 100,000 c. $180,000 d. $140,000 e. $320,000 38 Which one of the following is a capital asset? Select one: of a. None of the above O b. Frank was a self-employed painter who drove his car for business. c. Gary owned a car he drove it for his job. O d. A car that Nancy owned. She bought and sold cars in her business