On January 1, 2020, Payton Inc. purchased a patent. At that time, the patent was recorded at $2.3 million and was expected to have a useful life of 20 years. Between 2020 and 2024 the patent was not impaired. Assuming that no revisions to the useful life were required, the amortization expense for 2024 was a. $115,000. b. nil. c. $121,053. d. $184,000.