a. A patent purchased from J. Miller on January 1, 2010, for a cash cost of $5,640. When purchased, the patent had an estimated life of fifteen years. b. A trademark was registered with the federal government for $10,000. Management estimated that the trademark could be worth as much as $200,000 because it has an indefinite life. c. Computer licensing rights were purchased on January 1, 2010, for $60,000. The rights are expected to have a four-year useful life to the company. Compute the acquisition cost of each intangible asset. patent trademark licensing rights .

1. a.
A patent purchased from J. Miller on January 1, 2010, for a cash
cost of $5,640. When purchased, the patent had an estimated
life of fifteen years.
b.
A trademark was registered with the federal government for
$10,000. Management estimated that the trademark could be
worth as much as $200,000 because it has an indefinite life.
c.
Computer licensing rights were purchased on January 1, 2010,
for $60,000. The rights are expected to have a four-year useful
life to the company.
Compute the acquisition cost of each intangible asset.
patent
trademark
licensing rights