Miguel Foods, Inc

Miguel Foods, Inc.purchased a patent at the beginning of 2013 for $350,000.Economic benefits were expected for 7 years, but the patent's legal life was 20 years.Also during 2013, the company incurred research and development costs of $270,000.Patent amortization expense for 2013 is

A) $11,000
B) $17,500
C) $31,000
D) $50,000