The intangible assets section of Ayayai Corporation's balance sheet at December 31,2017, is presented here. Patents ($89,700 cost less $8,970 amortization) Copyrights($51,000 cost less $35,700 amortization) Total $80,730 15,300 $96,030 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2018. Jan. Jan- June Developed a new product, incurring $259,500 in research and development costs. A patent was granted for the product on Sept. 1 Paid $47,500 to a quarterback to appear in commercials advertising the company's products. The commercials will air in Oct. 1 Acquired a copyright for $231,000. The copyright has a useful life and legal life of 50 years. Paid $36,000 legal costs to successfully defend the patent against infringement by another company. July 1, and its useful life is equal to its legal life. Legal and other costs for the patent were $30,000. September and October