Which of the following would not be subject to amortization?

 1. Goodwill

 2. Patent 

3. Copyright 

4. Trademark

 

Mitchell Inc. developed a product, spending $4,900,000 in research to do so. Mitchell applied for and received a patent for the

product in January, spending $34,800 in legal and filing fees. The patent is valid for seventeen years.

 What would be the book

value of the patent at the end of Year 1?

1. $4,644,518

2. $34,800

3. $32,753

4. $4,611,765