Springer Company had three intangible assets at the end of 2017 (end of the accounting year):

a. A copyright purchased on January 1, 2017, for a cash cost of $15,600. The copyright is expected to have a 10-year useful life to Springer.

b. Goodwill of $76,000 from the purchase of the Hartford Company on July 1, 2016.

c. A patent purchased on January 1, 2016, for $54,000. The inventor had registered the patent with the U.S. Patent Office on January 1, 2012.

I just need patent. please explain

SPRINGER COMPANY Balance Sheet December 31, 2017 (partial) Intangibles: Copyright Goodwill Patent $14,040 76,000 $ 90,040