Question 22 (4 points) ELO Corporation purchased a patent for $90,000 on January 1, 2008. It had a useful life of 10 years. On January 1, 2010, ELO spent $22,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2010? a) $20,600. b) $20,000 c) $18,800 d) $15,600