Gessner LLC Patented a Process It Developed in the Current

question 3

Multiple Choice

Gessner LLC patented a process it developed in the current year. The patent is expected to create benefits for Gessner over a 10-year period. The patent was issued on April 15 ^th and the legal costs associated with the patent were $43,000. In addition, Gessner had unamortized research expenditures of $15,000 related to the process. What is the total amortization amount Gessner may deduct during the current year?

• A)$2,417
• B)$2,174
• C)$4,108
• D)$4,350
• E)None of the choices are correct.

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Definitions:

Cumin

A flowering plant in the family Apiaceae, whose seeds are used as a spice for their distinct flavor.

Coriander

An herb commonly used in cooking, known for its fresh leaves and dried seeds, both of which have distinct flavors and are used in various cuisines worldwide.

Arraignment

An arraignment is a court proceeding where the defendant is formally charged and asked to respond to the charges by entering a plea.

Plea

A formal statement made by a defendant in court regarding their guilt or innocence concerning the charges against them.