During 2012 traco machine company spent 176000 on rampd, Ask an Expert

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During 2012, Traco Machine Company spent $176,000 on R&D costs for an invention. This invention was patented on January 2, 2013, at a nominal cost that was expensed in 2013. The patent had a legal life of 20 years and an estimated useful life of 8 years. In January 2017, Traco paid $16,000 for legal fees in a successful defense of the patent. Amortization for 2017 should be:

a. $1,000

b. $26,000

c. $0

d. $4,000

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91977288

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