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On January 1, 2020, Goose Co. purchased a patent from another company for 5220,000 . The remaining letagal life on the patent was 11 years,

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On January 1, 2020, Goose Co. purchased a patent from another company for 5220,000 . The remaining letagal life on the patent was 11 years, and the company expects the patent to be useful for at least 11 years, On December 31, 2022, Goose Co. successfully defended the patent in legal proceedings. Legal expenses were $15,000. Determine the carrying value of the patent on January 1. 2023. 220,000 175,000 160,000 None of the above 235,000

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