Question $1$

Blue Co$.$ has a patent on a communication process. The company has amortized the patent

on a straight$-$line basis since $2017,$ when it was acquired at a cost of $$48\mathrm{.}00$ million at the

beginning of that year. Due to rapid technological advances in the industry, management

decided that the patent would benefit the company over a total of six years rather than the

nine$-$year life being used to amortize its cost. The decision was made at the end of $2021$

$($before adjusting and closing entries$).$ What is the appropriate patent amortization expense

in $2021?($Do not round your intermediate calculation.$)$

$$6\mathrm{.}67$ million.

$$26\mathrm{.}67$ million.

$$13\mathrm{.}33$ million.

$$5\mathrm{.}33$ million.