Sheridan Industries has the following patents on its December 31,2024 , balance sheet. The following events occurred during the year ended December 31, 2025. 1. Research and development costs of $235,000 were incurred during the year. 2. Patent D was purchased on July 1 for $45,372. This patent has a usefullife of 91/2 years. 3. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31, 2025. The controller for Sheridan estimates the expected future cash flows from Patent B will beastollows. The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the vear.) Click here to view factor tables. (a) 6 Your answer is incorrect. Compute the total carrying amount of Sheridan's patents on its December 31, 2024, balance sheet. (Round answer to O decimal places, eg. 5,125.) Total carrying amount