25) Otis Corporation purchased a patent for $405,000 on September
25) Otis Corporation purchased a patent for $405,000 on September
1, 2016. It had a useful life of 10 years. On January 1, 2018, Otis spent $99,000 to successfully defend the patent in a lawsuit. Otis feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2018?
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