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Monsoon Corporation purchased a patent for $135,000 on September 1, 2018. It had a useful...

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Accounting

Monsoon Corporation purchased a patent for $135,000 on September 1, 2018. It had a useful life of 10 years. On January 1, 2020, Monsoon spent $33,000 to successfully defend the patent in a lawsuit. Monsoon feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2020?

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