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QUESTION 13 Granite Inc. is a new corporation, organizing on January 1, 2019. During the first week of operations, Granite purchased a patent for $4,000,000.

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QUESTION 13 Granite Inc. is a new corporation, organizing on January 1, 2019. During the first week of operations, Granite purchased a patent for $4,000,000. Patent registration costs were $10,000. The patent has a legal life of 10 years and a useful life of five years. Using the straight-line method, Granite's amortization expense for 2019 was: A. $400,000 B. $401,000. C. $800,000 D. $802,000. E. None of the above

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