Pocono CoPurchased a Patent at the Beginning of 2016 for $490,000

question 52

Multiple Choice

Pocono Co.purchased a patent at the beginning of 2016 for $490,000 Economic benefits were expected for 7 years, but the patent's legal life was 20 years.Also during 2016, the company incurred research and development costs of $150,000.Patent amortization expense for 2016 is

• A) $24,500
• B) $150,000
• C) $72,143
• D) $70,000

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Definitions:

N-Br Bond

A chemical bond between nitrogen and bromine atoms.

Electronegativity Difference

This term describes the difference in electronegativity values between two atoms bonded together, influencing the bond type; ranging from covalent to ionic.

C-O Bond

A chemical bond formed between a carbon atom and an oxygen atom, a key feature in many organic and inorganic molecules.

Electronegativity Difference

Electronegativity difference is a measure of the disparity in electronegativity between two bonded atoms, influencing the bond type and polarity.