On January t, Year 1, Stiller Compeny paid $232000 to obtain a patent Siller expected to use the petent for 5 years before i became technologically obsolete. The remaining legal Iife of the patent was B years Based on this information, the amount of amortizetion expense on the December 31, Year 3 income statement and the book value of the patent on the December 31, Year 3, balance sheet, respectively, would be Mutiple Choice 29000 and $87,000 46,400 and 92 800 29,000 and $145.000
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