1 During 2021, Buchannan spent $675,000 developing a new manufactur process. In January, 2022, Buchannan's application for a patent was granted. Legal and registration costs incurred were $90,000. Buchan doesn't expect to benefit from the patent for its entire 20-year legal life but estimates that the manufacturing process will be profitable for approximately nine years
1 During 2021, Buchannan spent $675,000 developing a new manufactur process. In January, 2022, Buchannan's application for a patent was granted. Legal and registration costs incurred were $90,000. Buchan doesn't expect to benefit from the patent for its entire 20-year legal life but estimates that the manufacturing process will be profitable for approximately nine years
Chapter1: Financial Statements And Business Decisions
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