On March 17, Advanced Technologies purchased a patent related to laser surgery techniques. The purchase price of the patent is $1,290,000. The patent is expected to benefit the company for the next five years. The company had the following additional costs: $29,000 in legal fees associated with the purchase and filing of the patent, $44,000 to advertise its new laser surgery techniques, and $54,000 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 $1,290,000 to develop the patent internally, consisting of personnel ($845,000), equipment ($327,000), and materials ($118,000). All additional costs were incurred for the same amount.

The answer is 29,000. Only legal fees!!!