Problem # 3-Carrying value of patent. (5 points) Sisco Co. purchased a patent from Thornton Co. for $620,000 on July 1, 2012. Expenditures of $120,250 for successful litigation in defense of the patent were paid on July 1, 2015. Sisco estimates that the useful life of the patent will be 16 years from the date of acquisition. Instructions Prepare a computation of the carrying value of the patent at December 31, 2015