Broadway corporation was granted a patent on a product on January 1, 2001. to protect its patent, the corporation purchased on January 1, 2012 a patent on a competing product which was originally issued on January 10, 2008. because of its unique plant, broadway corporation does not feel th ecompeting patent can be used in producing a product. the cost of the competing patent should be
a. amortized over a maximum period of 20 years
b. amortized over a maximum period of 16 years
c. amortized over a maximum period of 9 years
d. expensed in 2012
Answer: c. amortized over a maximum period of 9 years
Business
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