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What the total amount capitalized for patent through march

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Reference no: EM132877469

Lopez Corp. incurred P420,000 of research costs to develop a product for which a patent was granted on January 2, 2016. Legal fees and other costs associated with registration of the patent totaled P80,000. On March 31, 2021, Lopez paid P150,000 for legal fees in a successful defense of the patent.

Problem 1: What the total amount capitalized for the patent through March 31, 2021 should be?

Reference no: EM132877469

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