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Berry Co. purchases a potent on January 1, 2021 for $32,000 and the patent has...

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Accounting

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Berry Co. purchases a potent on January 1, 2021 for $32,000 and the patent has an expected useful life of five years with no residual value. Assuming Berry Co uses the straight-line method what is the carrying value of the patent on December 31, 2022? Multiple Choice $16.200 $29.200 52100 $19.200

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