CBS Corporation acquired a patent for $1,000,000.The patent has a legal life of 20 years.Because of changing technology,this patent is expected to generate revenue for only 10 years and have no residual value.The annual amortization expense for the patent is:
A) $0.
B) $30,000.
C) $50,000.
D) $100,000.
Correct Answer:
Verified
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A)stockholders' equity
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A)patents
B)trademarks
C)copyrights
D)goodwill
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