On jan 2, 2014, alibion corporation a patent for new coustmenrs product for 45,000 and incurred legal cost 2,000 to secure the title. At the time of purchase the patent was valued for 15 years. Due to the competitive nature of the product , how ever the product was estimated to be sold only for 10 years amortization was recorded using straight line method. On Jan 1, 2018 the product was permanently removed from the market because of potential health hazardous. Albin reports using IFRS.

Required

1, At what amount should the patent be recorded on dec 31, 2017?

2, At what amount should the patent be recorded on dec 31, 2018?