Question

Belkin Plc purchased a patent for $135,000 on September 1, 2016. It had a useful life of 10 years. On January 1, 2018, Belkin spent $33,000 to successfully defend the patent in a lawsuit. Belkin 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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