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Amortization of Intangible Assets. To illustrate the amortization of an intangible asset, imagine XYZ Biotech spends $30 million dollars on a patent with a useful life of 15 years. Theoretically, to account for the expense over a 15-year period, XYZ Biotech records $2 million each year as an amortization expense.
Subtract the residual value you expect the patent to have at the end of its useful life from its cost. In this example, assume you estimate that the patent will be worth $2,000 at the end of its useful life. Subtract $2,000 from $52,000 to get $50,000.