On November 1, XX02, Blue Sole Proprietor purchased an existing business. With respect to the acquired assets of the business, Blue allocated $360,000 of the purchase price to a patent. The patent will expire in six years. Determine the total amount that Blue may amortize for XX02 for the patent. None of the choices are correct. $2,000. O $4,000. O $0. O $30,000.

On November 1, XX02, Blue Sole Proprietor purchased an existing business. With respect to the acquired assets of the business, Blue allocated $360,000 of the purchase price to a patent. The patent will expire in six years. Determine the total amount that Blue may amortize for XX02 for the patent. None of the choices are correct. $2,000. $4,000. $0. $30,000