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The Fanfare Company Applied for and Received Numerous Patents at a Total

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Essay

The Fanfare Company applied for and received numerous patents at a total cost of $286,500 at the beginning of 2011.It is assumed the patents will be useful evenly during their full legal lives.At the beginning of 2013,the company paid $48,600 in legal fees for successful defense in a patent infringement suit.At the beginning of 2014,information became available that caused the company to reduce the remaining life of the patents to five years.
Calculate the amortization expense for the years 2011,2012,2013,and 2014.Round to the nearest dollar.


Definitions:

Female Embryos

Human embryos that are genetically determined to develop as females, typically identified by having two X chromosomes.

Testosterone

A steroid hormone primarily produced in the testes of males and the ovaries of females, influential in the development of male secondary sexual characteristics.

Genitalia

External and internal reproductive organs.

Fetuses

A developmental stage of mammals, including humans, in the uterus from the embryonic stage until birth.

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