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Paleota Company purchased a patent from Finise for $234,000. At the time of purchase, the patent had a remaining useful life
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Answer #1

answer: d. $23,400

Calculation:-

Amortization expense = [Cost - residual(or salvage) value] / useful life

= [234000 - 0] / 10

= 234000/10

= $23,400

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