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:

Organizational Plan

A structured outline detailing how a company or project intends to achieve its goals and objectives.

Male

The biological sex characterized by the XY chromosome pair, typically associated with male reproductive structures and secondary sexual characteristics.

Female

Referring to the sex that is typically associated with the production of ova (eggs) and has sexual anatomy that includes structures such as ovaries and a vagina.

Social-cognitive Theory

A framework for understanding, predicting, and changing human behavior that emphasizes the role of observational learning, social experience, and reciprocal determinism in the development of personality.