target Inc. purchased a patent for $80,000 on 1/1/2020. The expected life of the patent is 20 years. On July 1, 2020, target incurred costs of $40,000 to defend their patent. At that point, target adjusted the total expected life of the patent to 10 years. What is 2021 amortization expense?

Group of answer choices

$12,011

$11,041

$11,800

$12,421