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Intangible assets-amortization for year 5 for a patent

Question:

A company purchases a patent for $900K with an estimated life of 15 years. It is subsequently reduced to 10 years. During year 5, the product for which the patent is held is removed from market.

Does the company book 90,000 in depreciation for year 5? If not, what amount do they book?

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Finance Basics: Intangible assets-amortization for year 5 for a patent

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Finance Basics: Intangible assets-amortization for year 5 for a patent

Reference No:- TGS02077925

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