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12. Trotman Company had three intangible assets at the end of 2020 (end of the accounting year): - Computer software and Web development technology purchased on January 1, 2019, for $70,000. The technology is expected to have a four-year useful life to the company. - A patent purchased from lan Zimmer on January 1,2019, for a cash cost of $6,000. Zimmer had registered the patent with the U.S. Patent Office five years ago. - An internally developed trademark registered with the federal government for $13,000 on November 1, 2020. Management decided the trademark has an indefinite life. (a) Calculate the acquisition cost of each intangible asset. (b) Calculate the amortization expense for each intangible for the year ended December 31, 2020. The company does not use contra accounts. 12. Trotman Company had three intangible assets at the end of 2020 (end of the accounting year): - Computer software and Web development technology purchased on January 1, 2019, for $70,000. The technology is expected to have a four-year useful life to the company. - A patent purchased from lan Zimmer on January 1,2019, for a cash cost of $6,000. Zimmer had registered the patent with the U.S. Patent Office five years ago. - An internally developed trademark registered with the federal government for $13,000 on November 1, 2020. Management decided the trademark has an indefinite life. (a) Calculate the acquisition cost of each intangible asset. (b) Calculate the amortization expense for each intangible for the year ended December 31, 2020. The company does not use contra accounts

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