Testbank Multiple Choice Question 93 Crane Corporation purchased a patent for $387000 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, Crane spent $95400 to successfully defend the patent in a lawsuit. Crane feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021? $86160. $81000 $67080. $88740. Click if you would like to Show Work for this question: Open Show Work