On June 1, 2024, Expert Company purchased a patent for $168,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only five years: Read the requirements. last une or the journai entry caoie.) Requirement 2. Journalize the amortization expense for the year ended December 31, 2024. Assume straight-line amortization. Begin by calculating the amortization xpense for 2024. Select the formula, enter the amounts and calculate the amortization expense. (Enter a " 0 " for items with a zero value. Do not round intermediary calculations. Only round the amount you input for straight-line amortization to the nearest dollar.)