What will the accumulated amortization of Mila and Dante’s $5,000 patent be after seven years, given a $250 amortized expense each year? (1 point) Responses $1,750 $1,750 $1,800 $1,800 $1,850 $1,850 $1,900

Answer 1

To calculate the accumulated amortization of the patent after seven years, you simply multiply the annual amortized expense by the number of years.

Given:

• Annual amortized expense = $250
• Time period = 7 years

Accumulated Amortization = Annual Amortized Expense × Number of Years
Accumulated Amortization = $250 × 7 = $1,750

Thus, the accumulated amortization after seven years will be $1,750.