Sandhill Co. purchased a patent from Wildhorse Co. for $920,700 on July 1, 2018. Expenditures of $176,715 for successful litigation in defense of the patent were paid on July 1, 2021. Sandhill estimates that the useful life of the patent will be 20 years from the date of acquisition. Prepare a computation of the carrying amount of the patent at December 31, 2021. (Enter negative amounts using either a negative sign preceding the number es-45 or parentheses eg. (45))