On January 1, 2022, Sunland Company had a balance of $388,000 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2022, the company had the following additional transactions. Jan. 2 Purchased a patent (5-year life) $360,150. July 1 Acquired a 10-year franchise; expiration date July 1, 2,032, $576,000. Sept. 1 Research and development costs $178,500.