Sandhill Corporation, organized in 2018, has these transactions related to intangible assets in that year: Jan. 2 Purchased a patent (5-year life), $290,100. Apr. Goodwill purchased as part of an acquisition of another company, $ 356,320. July 1 Acquired a 9-year franchise; expiration date July 1, 2027, $526,410. Sept.1 Research costs paid, $ 188,640. No marketable product has been identified as yet. Dec. 31 Determined that the recoverable amount of the patent was $ 189,900 Dec. 31Determined that the recoverable amount of the franchise was $ 494,530 Dec. 31 Determined that the goodwill was not impaired