Pina Colada Industries Ltd. had one patent recorded on its books as at January 1, 2020. This patent had a book value of $364 100 and a remaining useful life of 8 years. During 2020, Pina Colada incurred research costs of $139,800 and brought a patent infringement suit against a competitor On December 1, 2020, Pina Colada received the good news that its patent was valid and that its competitor could not use the process Pina Colada had patented. The company spent $110.500 to defend this patent. At what amount should the patent be reported on the December 31,2020 statement of financial position, assuming monthly straight-line amortization of patents? Patent, carrying amount, 12/31/20 $