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Crane Manufacturing Company acquired a patent on a manufacturing process on January 1,2020 for $5550000....

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Crane Manufacturing Company acquired a patent on a manufacturing process on January 1,2020 for $5550000. It was expected to have a 10 year life and no residual value. Crane uses straight-line amortization for patents. On December 31, 2021, the future cash flows expected from the patent were $510000 per year for the next eight years. The present value of these cash flows, discounted at Crane's market interest rate, is $2675000. At what amount should the patent be carried on the December 31,2021 balance sheet? $2675000.$5550000.$4080000.$4440000

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