Homework Answers
Answer: $29,400
Explanation
Accumulated Amortization for two years = (Cost / Useful life) * 2 years
= ($ 49,000 / 5) * 2 years
= $ 19,600
Carrying value of the patent on December 31, 2022 = Cost - Accumulated Amortization for two years
= $ 49,000 - $ 19,600
= $ 29,400
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