On January 1, Year 1, Stiler Company paid $208,000 to obtain a patent. Stiller expected to use the patent for 5 years before it became technologically obsolete. The remaining legal life of the patent was 8 years. Based on this information, what is the amount of amortization expense during Year 3 and the book value of the patent as of December 31 , Year 3 , respectively? Multipie Choice $41,600 and $124,800 $41,600 and $83,200 $26,000 and $78,000 $26,000 and $130,000