On June 1,2011,Red Corporation Purchased an Existing Business

On June 1,2011,Red Corporation purchased an existing business.With respect to the acquired assets of the business,Red allocated $300,000 of the purchase price to a patent.The patent will expire in five years.Determine the total amount that Red may amortize for 2011 for the patent.

A) $0.
B) $1,667.
C) $11,667.
D) $35,000.
E) None of the above.