Question 13 (1 point) On January 1, 2017, Quagmire Inc. bought a patent for a new product in the amount of $550,000. The patent was valid for 16 years at the time of the purchase of the patent; but, the patent's useful life was estimated to be only 12 years. On December 31, 2020, the product was taken off of the market permanently from due to a government order based upon safety concerns over the product. Assuming amortization is recorded at the end of each year, what amount should Quagmire charge against income during 2020 (no amortization has been taken in 2020 yet? Question 13 options: a) S 45,833 b) $412,500 c) S458,333 d) $350,000 Question 14 (1 point) In 2020, Jacques Corp. sells products have a two-year warranty against defects. During the year, Jacques Corp. began selling this new line of products. The company made an estimate of warranty costs based upon past experience with other products. The estimated warranty costs are 7.5% per each dollar of sales revenue. Sales and actual warranty expenditures for 2020 and 2021 are presented below: 2020 2021 Sales $950,000 $1,200.000 Actual warranty expenditures 40,000 90.000 What is the estimated warranty liability at the end of 2020? (assume the accrual method) Question 14 options: a) 531,250. b) $28,000. c) 59,230 d) $71,250