Question 20 0.5 pts On January 1, Year 1. Nectarine Company purchased a patent for $211.000. Although the potent gives legal protection for 20 years, the patent is expected to be used for only 10 years. The patent has no residual value. What will be the balance in the patent account on December 31. Year 1% $195,500 $200.450 $132.900 $211.000