Splish Brothers Industries has the following patents on its December 31, 2024, balance sheet: Patent Item Initial Cost Date Acquired Useful Life at Date Acquired Patent A $46,800 3/1/21 20 years Patent B $21,600 7/1/22 10 years Patent C $16,800 9/1/23 8 years The following events occurred during the year ended December 31, 2025. 1. Research and development costs of $360,500 were incurred during the year. 2. Patent D was purchased on July 1 for $10,000. This patent has a useful life of 12 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 Splish Brothers estimates the future cash flows from Patent B will be as follows: Year Future Cash Flows 2026 $2,600 2027 $2,600 2028 $2,600 The proper discount rate to be used for these flows is 896. (Assume that the cash flows occur at the end of the year.) Click here to view factor tables (a) Your answer is correct. Compute the total carrying amount of Splish Brothers's patents on its December 31, 2024 balance sheet. (b) Total carrying amount $ eTextbook and Media 68,030 Attempts: 1 of 7 used Compute the total carrying amount of Splish Brothers's patents on its December 31, 2025 balance sheet. (Round present value factor calculations to 5 decimal places, eg. 15.24673 and final answer to O decimal places, e.g. 5,125.) Total carrying amount $ eTextbook and Medla