Using the following unrelated situations. A. A patent with a 12-year remaining legal life was purchased for $350,000. The patent will be usable for another 10 years. B. A patent was acquired on a new smartphone. The cost of the patent itself was only $25,000, but the market value of the patent is $550,000. The company expects to be able to use this patent for all 25 years of its life. Calculate the annual amortization expense. A. $ B. $ Prepare a journal entry to record the expense. If an amount box does not require an entry, leave it blank. A. B.