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Andrew [12]
3 years ago
11

Waves company purchased a patent for $170,000 at the beginning of 2011, and estimated that its expected useful life was 10 years

. the patent has a legal life of 17 years. what amount should be recorded as amortization expense for the patent in 2011?
Business
1 answer:
Svetach [21]3 years ago
5 0
<span>Purchased the patent for $170,000 in the beginning of 2011.Expected useful life is 10 years.Has a legal life of 17 years.Amortization expense = Cost/estimated useful life = $170,000/10 years = $17,000 per yea</span>
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