The intangible assets and goodwill reported by Crane Corporation at December 31, 2020, follow: Copyrights (#1) $38,580 Less: Accumulated amortization 19,290 $19,290 Trademarks 51,010 Goodwill Total 123,480 $193,780 A copyright (#1) was acquired on January 1, 2019, and has a useful life of four years. The trademarks were acquired on January 1, 2017, and are expected to have an indefinite life. The company has a December 31 year end and prepares adjusting journal entries annually. The following cash transactions may have affected intangible assets and goodwill during 2021: Jan. 5 Paid $6,370 in legal costs to successfully defend the trademarks against infringement by another company. July 1 Developed a new product incurring $195 010 in research and $45 800 in development costs with probable future a Search hD