Wildhorse Co. purchased a patent from Blossom Co. for $1,069,500 on July 1, 2023 and uses the straight-line method of amortization for the asset. Expenditures of $205,275 for successful litigation in defense of the patent were paid on July 1, 2026. Wildhorse estimates that the useful life of the patent will be 20 years from the date of acquisition. Prepare a computation of the carrying amount of the patent at the company's December 31, 2026 year-end. A +A