a. A patent purchased from J. Miller on January 1, 2010, for a cash cost of $5,640. When purchased, the patent…

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a. A patent purchased from J. Miller on January 1, 2010, for a cash cost of $5,640. When purchased, the patent had an estimated life of fifteen years. b. A trademark was registered with the federal government for $10,000. Management estimated that the trademark could be worth as much as $200,000 because it has an indefinite life. c. Computer licensing rights were purchased on January 1, 2010, for $60,000. The rights are expected to have a four-year useful life to the company. Compute the acquisition cost of each intangible asset. patent trademark licensing rights

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