On January 1, 2021, Weaver Corporation purchased a patent for $225,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January 2023, the company incurred legal fees of $45,000 in successfully defending a patent infringement suit. The successful defense did not change the companys estimate of useful life. Weaver Corporations year-end is December 31.

What is the balance in the Patent account at the end of 2023?