Required:

a$.$ In determining the $12-$year use

consider?

b$.$ Which of these two lives did Te

c$.$ Make the December $31,2020,$On April $1,2020,$ the Tech Corp. acquired a patent for $$162,000.$ This patent has an estimated useful life of

$12$ years with an estimated residual value of $$18,000.$

Required:

a$.$ In determining the $12-$year useful life of this patent, what two lives of the patent did Tech

consider?

b$.$ Which of these two lives did Tech use as the patent's useful life or is that determinable?

c$.$ Make the December $31,2020,$ entry for Tech to record the $2020$ amortization of this patent in the

manner that Tech would have to use in this class.

d$.$ What will be the book value of this patent on the December $31,{2023}_{?},$ balance sheet?