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During year 5, Kent Co. incurred $204,000 of research and development costs in its laboratory to develop a patent that was granted on July 1, year 5. Legal fees and other costs associated with registration of the patent totaled $41,000. The estimated economic life of the patent is 10 years. What amount should Kent capitalize for the patent on July 1, year 5
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During year 5, Kent Co. incurred $204,000 of research and development costs in its laboratory to dev...
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