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On January 1, 20X1, Blake Company purchased a patent for $68,000. The patent has a remaining legal life of nine years and an expected service

On January 1, 20X1, Blake Company purchased a patent for $68,000. The patent has a remaining legal life of nine years and an expected service life of eight years. The amortization expense (to the nearest dollar) properly recognized for 20X1 is:

$3,400.

$8,500.

$0.

None of these

$7,556.

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