10,000 hours. Bigbie used the asset for 1,100 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset? 33) Harrison Company purchased a depreciable asset for $ 100,000. The estimated salvage value is $ 10,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset? 34) Costs incurred internally to create intangibles are 35) The cost of purchasing patent rights for a product that might otherwise have seriously competed with one of the purchaser ' s patented products should be 36) Riser Corporation was granted a patent on a product on January 1, 1998. To protect its patent, the corporation purchased on January 1, 2007 a patent on a competing product which was originally issued on January 10, 2003. Because of its unique plant, Riser Corporation does NOT feel the competing patent can be used in producing a product. The cost of the competing patent should be 37) Twilight Corporation acquired End-of-the-World Products on January 1, 2008 for $ 2,000,000, and recorded goodwill of $ 375,000 as a result of that purchase. At December 31, 2008, the End-of-the- World Products Division had a fair value of $ 1,700,000. The net identifiable assets of the Division( excluding goodwill) had a fair value of $ 1,450,000 at that time. What amount of loss on impairment of goodwill should Twilight record in 2008? 38) Fleming Corporation acquired Out-of-Sight Products on January 1, 2008 for $ 4,000,000, and recorded goodwill of $ 750,000 as a result of that purchase. At December 31, 2008, the Out-of-Sight Products Division had a fair value of $ 3,400,000. The net identifiable assets of the Division( excluding goodwill) had a fair value of $ 2,900,000 at that time. What amount of loss on impairment of goodwill should Fleming record in 2008? 39) Malrom Manufacturing Company acquired a patent on a manufacturing process on January 1, 2006 for $ 10,000,000. It was expected to have a 10 year life and no residual value. Malrom uses straight-line amortization for patents. On December 31, 2007, the expected future cash flows expected from the patent were expected to be $ 800,000 per year for the next eight years. The present value of