On July 1 2022 Dylan Company purchased a patent from Roy Orbison for $1050000.It is estimated that the patent has a remaining useful life of 5 years.Use the following tabular analysis to make the adjustment for amortization expense for the year 2022. 
Definitions:
Nonmonetary Assets
Assets that cannot be readily converted into cash, such as property, equipment, and patents.
Successful-efforts Method
An accounting method used in the oil and gas industry focusing on capitalizing the cost of successful projects and expensing those of unsuccessful ones.
Full-cost Method
An accounting method where all direct and indirect costs of producing an asset are capitalized or included in its cost base.
Drilling Expense
Costs associated with the process of drilling, such as those incurred in the exploration and production of oil and gas resources.
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