Question 8 (2 points) On January 2, 20X1, Xerxes Corporation ('XC') acquired a U.S. patent from Queen's University's Faculty of Computer Engineering for $150,000. The patent had an original life of 17 years, but 'sat on the shelf' for the first 5 years until purchased by XC. XC's management forecasts that it will be able to generate sales from products based this patent's technology starting immediately and continuing for approximately 8 years before anticipated new R&D by competitors renders this technology obsolete. With an April 30 year-end, what amount (rounded to the nearest dollar) should be charged to amortization expense for fiscal 20X1 in respect of this asset