Sheridan Corporation has a December $31$ year$-$end and amortizes its limited$-$life intangible assets using the straight$-$line method. Sheridan purchased a patent for $$394500$ on September $1,2024.$ The patent had a remaining legal life of $13$ years and a useful life of ten. On January $1,2026,$ Sheridan spent $$96900$ to successfully defend the patent in an infringement lawsuit. As of that date, Sheridan estimates the remaining useful life at $5$ years. With regard to this patent, the company's $2026$ income statement will report Patent Amortization Expense of

$$82500.$

$$68380.$

$$90390.$

$$87760.$