Solve the following:

Bluestone Company had three intangible assets at the end of the current year: a. A patent purchased this year from Miller Co on January 1 for a cash cost of $6,000. When purchased, the patent had an estimated life of 10 years b. A trademark was registered with the federal government for $4.500. Management estimated that the trademark could be worth as much as $130,000 because it has an indefinite life c. Computer licensing rights were purchased this year on January 1 for $40.000. The rights are expected to have a five-year useful life to the company Required: 1. Compute the acquisition cost of each intangible asset Acquisition Cost Patent Trademark Licensing Rights S 6,000 4,500 40,000 2. Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations) Amortization Expenses 600 Patent Trademark Licensing Rights S 8.000