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PepsiCo: PepsiCo acquired a patent for $2,000,000 on January 1, 20X1, with an estimated remaining legal life of 8 years. Considering it's now December 31,

  1. PepsiCo: PepsiCo acquired a patent for $2,000,000 on January 1, 20X1, with an estimated remaining legal life of 8 years. Considering it's now December 31, 20X5, calculate the total amortization expense recognized for the patent from 20X1 to 20X5, employing the straight-line method.

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