On January 1, 2015, Weaver Corporation purchased a patent for $237,000. The remaining legal life is 20 years, but the company es
timates the patent will be useful for only six more years. In January 2017, the company incurred legal fees of $57,000 in successfully defending a patent infringement suit. The successful defense did not change the company's estimate of useful life. Weaver Corporation's year-end is December 31.
1. Record the purchase in 2015; amortization in 2015; amortization in 2016; legal fees in 2017; and amortization in 2017.
2. What is the balance in the Patent account at the end of 2017?
1. Record the purchase in 2015; amortization in 2015; amortization in 2016; legal fees in 2017; and amortization in 2017.
2. What is the balance in the Patent account at the end of 2017?
1 answer:
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Answer:
The current price of the stock is b. $38.62
Explanation:
Hi, in order to find the current price of the stock, first we need to find the amount paid as a constant dividend, the formula is as follows.
So, things should look like this
So the amount of constant dividend tha this company is paying is $1.12/share
Now we can find the current price using the same equation and solving for "Price",
Therefore, the current price of the stock is $38.62, that would be option b.
Best of luck: