Problem 12-2 Fields Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution. Fields does not manufacture or sell the products and processes it develops. Instead, it conducts research and develops products and processes which it patents, and then assigns the patents to manufacturers on a royalty basis. Occasionally it sells a patent. The history of Fields patent number 758-6002-1A is as follows. Date Activity Cost 2008-2009 esearch conducted to develop precipitator Jan. 2010 March 2010 Testing of models Jan. 2011 $372,000 Design and construction of a prototype 86,200 42,000 Fees paid engineers and lawyers to prepare patent application; patent granted June 30, 2011 Engineering activity necessary to advance the design of the 51,000 Nov. 2012 precipitator to the manufacturing stage Dec. 2013 egal fees paid to successfully defend precipitator patent April 2014 July 2018 Legal fees paid in unsuccessful patent infringement suit against a 90,500 42,000 43,000 Research aimed at modifying the design of the patented precipitator competitor 34,000 Fields assumed a useful life of 17 years when it received the initial precipitator patent. On January 1, 2016, it revised its useful life estimate downward to 5 remaining years. Amortization is computed for a full year if the cost is incurred prior to July 1, and no amortization for the year if the cost is incurred after June 30. The company's year ends December 31 Compute the carrying value of patent No. 758-6002-1A on each of the following dates (a) December 31, 2011 (b) December 31, 2015 (e) December 31, 2018 s