On January 1, 2024, a company purchased a patent for $303,000 giving it exclusive rights to manufacture a new type of synthetic clothing. While the patent had a remaining legal life of 15 years at the time of purchase, the company expects the useful life to be only eight more years. In addition, the company purchased equipment related to production of the new clothing for $147,000. The equipment has a physical life of 10 years, but the company plans to use the equipment only over the patent's service life and then sell it for an estimated $31,000. The company uses straight-line for all long-term assets. The amount to expense in 2027 related to the patent and equipment should be: