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Oriole Corporation purchased a patent for $121500 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, Oriole spent

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Oriole Corporation purchased a patent for $121500 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, Oriole spent $24000 to successfully defend the patent in a lawsuit. Oriole feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021? $21060. $26670. $24240. $25860

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