During 2017, Lyle company incurred P400,000 of research and development costs in its laboratory to develop a product for which a patent was granted on July 1, 2017.  Legal fees and other costs associated with the patent totaled P82,000.  The estimated economic life of patent is 10 years. What amount should Lyle capitalize for the patent on July 1, 2017?________________________ and what is/are the rules in answering the problem?

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