Gessner LLC Patented a Process It Developed in the Current

question 63

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 15ᵗʰ 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 expense 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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