Business, 20.12.2019 20:31 allimaycatp8qgaq
Bethany incurred $20,000 in research and experimental costs for developing a specialized product during july of year 1. bethany went through a lot of trouble and spent $10,000 in legal fees to receive a patent for the product in august of year 3. bethany expects the patent to have a remaining useful life of 10 years.
what amount of research and experimental expenses for year 1, year 2, and year 3 may bethany deduct if she elects to amortize the expenses over 60 months?
how much patent amortization expense would bethany deduct in year 3 assuming she elected to amortize the research and experimental costs over 60 months?
Answers: 3
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Bethany incurred $20,000 in research and experimental costs for developing a specialized product dur...
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