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A company purchased a patent on January 1, Year 7, for \$2,520,000. The patent's legal life is 20 years but the company estimates that the patent's useful life will only be 5 years. On June 30, Year 8, the company paid legal costs of \$126,000 in successfully defending the patent in an infringement suit.

What is the amortization expense in Year 8 related to this Patent?

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