CK Incurred $68,000 of Research and Development Costs in Its

CK incurred $68,000 of research and development costs in its laboratory to develo a patent, which was granted on January 2, 2001. Legal fees and other costs associated with registration of the patent totalled $27,201. CK estimates that the economic life of the patent will be eight years. What amount should CK charge to patent amortization expense for the year ended December 31, 2008?

A) $-0-
B) $1,600
C) $3,400
D) $20,400

Correct Answer:

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