Question 2 of 21 Sports Moving to the next cuestion prevents changes to this www. Question 2 A Company incurred research and development costs to bring a new product to market. In addition they paid legal fees to acquire a patent on the new product. The patent has a legal life of 20 years and a useful life of 10 years. DATA: Research & development Costs $125,000 Legal fees paid to acquire Patent $40,000 How much amortization expense should they record in the first year? $12,500 $16,500 $4,000 12,000 $8.250