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pls help asap ELO Corporation purchased a patent for $180,000 on September 1,2024 . It had a useful life of 10 years. On January 1,2026

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ELO Corporation purchased a patent for $180,000 on September 1,2024 . It had a useful life of 10 years. On January 1,2026 , ELO spent $44,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2026 ? $41,200. $40,000 $37,600. $31,200

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