R company registered a patent on january 1 2015 p company, Accounting Basics

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R company registered a patent on january 1 2015 p company

Problem

R Company registered a patent on January 1, 2015. P Company purchased the patent from R Company for $450,000 on January 1, 2020, and began to amortize the patent over its remaining legal life. In early 2021, P Company determined that the patent's economic benefits would last only until the end of 2025. What amount should P Company record for patent amortization in 2021?

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Accounting Basics: R company registered a patent on january 1 2015 p company

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