Question one (8 marks) In January 1, 2009. ABC Corporation applied for a patent, incurring legal costs of 100,000 and the estimated useful life was 10 years. In January 1, 2010, ABC incurred S18,000 of legal fees in a successful defense of its patent; the remaining useful life on January 1, 2010 was 9 yeats. Requirement: (a) Compute 2009 amortization, 12/31/09 carrying value. 2010 amortization, and 12/31/10 cartying value (6 marks) (b) At the beginning of 2011, based on new market research. ABC determines that the towerable amount of the patent is $88,000. Compute the loss on impairment (if any) on 1/1/2011. (2 marks)