Oriole Corp. incurred $750000 of research and development costs to develop a product for which a patent was granted on January 2, 2018. Legal fees and other costs associated with registration of the patent totaled $151000. On March 31, 2021, Oriole paid $305000 for legal fees in a successful defense of the patent. The total amount capitalized for the patent through March 31, 2021 should be

1.$456000.

2.$1055000.

3.$901000.

4.$1206000.

Goodwill may be recorded when

1.it is identified within a company.

2.one company acquires another in a business combination.

3.the fair value of a companys assets exceeds their cost.

4.a company has exceptional customer relations.