The intangible assets and goodwill reported by Oriple Corporation at December 31,2020 , follow: 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 $6,780 in legal costs to successfully defend the trademarks against infringement by another company. July 1 Developed a new product, incurring $220,250 in research and $52,400 in development costs with probable future benefits. The product is expected to have a useful life of 20 years. Sept. 1 Paid $55.050 to a popular hockey player to appear in commercials advertising the company's products. The commercials will air in early September. Oct. 1 Acquired another copyright (\#2) for $162.000. The new copyright has a useful life ol six years. Dec. 31 Determined the fair value of the goodwill to be $86,260. There was no indication that the copyrights or trademarks wereimpaired. Dec. 31 (To record amortization on copyrights acquired on January 1,2019) Dec. 31 (To record amortization on copyrights acquired on October 1. 2021) Deci 31 (To record amortization expense on development cost) Dec. 31