a. During 2012, Morrow Company spent $88,000 on research and development costs for a new product. This product was patented on January 1, 2013 with patent registration fees paid of $2,000. The patent has an estimated useful life of eight years. On January 1, 2016, Morrow paid $8,000 for legal fees in a successful defense of the patent and as a result, changed their estimate of the total useful life of the patent to the 20 year legal life. Determine the amount of amortization expense to be recorded on the patent for the year ending December 31, 2016.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

The questions of economics address which of the following ? check all that apply

Suppose the real risk-free rate and inflation rate are expected to remain at their current levels throughout the foreseeable future. consider all factors that affect the yield curve. then identify which of the following shapes that the u.s. treasury yield curve can take. check all that apply.