On January 2, 2016, David Corporation purchased a patent for $500,000. The remaining legallife is 12 years, but the company estimated that the patent will be useful only for eight years. InJanuary 2018, the company incurred legal fees of $45,000 in successfully defending a patentinfringement suit. The successful defense did not change the company's estimate of useful life.

Required:Prepare journal entries related to the patent for 2016, 2017, and 2018.

Please show steps and calculation.

Thanks.