c. Also, on March 1, 2013, the subsidiary acquired a patent for $108,000. At that time, it was estimated that the patent would have a useful life of 12 years. At June 30, 2015, the value of the patent...

c. Also, on March 1, 2013, the subsidiary acquired a patent for $108,000. At that time, it was estimated that the patent would have a useful life of 12 years. At June 30, 2015, the value of the patent became impaired, and the subsidiary reclassified the assets as ‘‘held for resale’’ and carried the asset at its net realizable value of 32,000 FC. Determine the 2015 amortization expense and impairment loss associated with the patent.