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During 2015, A Company incurred research and development cost of P1,360,000 relating to a patent that was granted on July 1, 2015. Cost of registering

During 2015, A Company incurred research and development cost of P1,360,000 relating to a patent that was granted on July 1, 2015. Cost of registering the patent equaled P340,000. The patent legal life is 20 years and the estimated economic life is 10 years. On December 31, 2015, what amount should be reported as patent net accumulated
amortization?

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