9. During 2021, Rockon Company, Inc. incurred $240,000 in legal fees in defending a patent against an infringement with a carrying value of $2,500,000. Rockon’s lawyers were successful with the

9. During 2021, Rockon Company, Inc. incurred $240,000 in legal fees in defending a patent against an infringement with a carrying value of $2,500,000. Rockon’s lawyers were successful with the defense of the patent. The legal fees should be a. expensed in 2021 and classified as ordinary expense b. classified as an extraordinary item on the income statement for 2021 c. capitalized and amortized over the remaining legal life of the patent d. capitalized and amortized over the remaining economic life or legal life of the patent, whichever is shorter

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