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On March 1 7 , Advanced Technologies purchased a patent related to laser surgery techniques. The purchase price of the patent is $ 1 ,
On March Advanced Technologies purchased a patent related to laser surgery techniques. The purchase price of the patent is $ The patent is expected to benefit the company for the next five years. The company had the following additional costs: $ in legal fees associated with the purchase and filing of the patent, $ to advertise its new laser surgery techniques, and $ to train employees. None of these additional costs were included in the purchase price or paid to the seller. Now assume that instead of purchasing the patent, Advanced Technologies spent $ to develop the patent internally, consisting of personnel $ equipment $ and materials $ All additional costs were incurred for the same amount. What is the recorded cost of the patent?
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