QUESTION TO Which of the following items is a capital expenditure (as opposed to revenue expenditures)? a. Patent b Advertising c. Depreciation d Repair and maintenance (routine) QUESTION 14 A research and development firm acquired a patent on January 1, 20x1 for $125,000. The patent had an original legal life of 20 years On January 1, 20X1, when the patent was acquired by the engineering firm, it had a remaining legal life of 10 years. This patent is expected to be of value to the firm's operations for the next 5 years, through December 31, 20X5. What is the annual patent amortization expense that will appear on the income statement for the year ended December 31, 20X3? a $12,500 b $6.250 $25,000 $5.000 d