During the Period from 2013 to the End of 2014

question 84

Multiple Choice

During the period from 2013 to the end of 2014, Excellence, Inc. spent $90,000 on research and development for an invention that was patented on January 1, 2015. Excellence estimated that the patented invention would be useful in its production for 10 years. At the beginning of 2017, Excellence paid $16,000 in legal fees in a successful defense of the patent. What is Excellence's patent amortization expense for 2017?

• A) $25,000
• B) $11,000
• C) $10,600
• D) $2,000

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Definitions:

Large-Game Animals

Refers to bigger wild animals that are hunted for sport, food, or traditionally in some cultures, for various uses including as sources of materials.

Gender Contributions

The roles, responsibilities, and activities assigned to or accepted by individuals based on their societal definitions of gender.

Toolmaker

An individual or entity that designs and manufactures tools, often with precision, for various purposes including construction, manufacturing, and technology.

Fossil Record

The collection of all known fossils and their placement in rock formations and sedimentary layers, which provides evidence about the history of life on Earth.