Tones Industries has the following patents on its December 31, 2013, balance sheet. Patent Item Initial Cost Date Acquired Useful Life at Date Acquired Patent A $43,248 3/1/10 17 years Patent B $24,840 7/1/11 10 years Patent C $36,960 9/1/12 4 years The following events occurred during the year ended December 31, 2014. 1. Research and development costs of $221,730 were incurred during the year. 2. Patent D was purchased on July 1 for $43,776. This patent has a useful life of 91/2 years. 3. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent Bs value may have occurred at December 31, 2014. The controller for Tones estimates the expected future cash flows from Patent B will be as follows. Year Expected Future Cash Flows 2015 $2,150 2016 2,150 2017 2,150 The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.) The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.) Compute the total carrying amount of Tones patents on its December 31, 2013, balance sheet. (Round all answers to 0 decimal places, e.g. 8,564) Total carrying amount $? Compute the total carrying amount of Tones' patents on its December 31, 2014, balance sheet. (Round all answers to 0 decimal places, e.g. 8,564) Total carrying amount $