View Policies Current Attempt in Progress Skysong Industries has the following patents on its December 31,2019 , balance sheet. The following events occurred during the year ended December 31,2020. 1. Research and development costs of $379,100 were incurred during the year. 2. Patent D was purchased on July 1 for $10,800. This patent has a useful life of 12 years. 3. As a result of reduced demands for certain products protected by Patent B, a possible impairment of Patent B's value may have occurred at December 31,2020 . The controller for Skysong estimates the future cash flows from Patent B will be as follows. The proper discount rate to be used for these flows is 8%. (Assume that the cash flows occur at the end of the year.) Click here to view factor tables Compute the total carrying amount of Tamarisk' patents on its December 31,2019 , balance sheet. Total carrying amount eTextbook and Media (b) Compute the total carrying amount of Tamarisk' patents on its December 31, 2020, balance sheet