Malrom manufacturing company acquired a patent on a manufacturing process on january 1, 2014 for $3,750,000. it was expected to have a 10 year life and no residual value. malrom uses straight-line amortization for patents. on december 31, 2015, the expected future cash flows expected from the patent were expected to be $300,000 per year for the next eight years. the present value of these cash flows, discounted at malrom's market interest rate, is $1,800,000. at what amount should the patent be carried on the december 31, 2015 balance sheet?