A patent is purchased for $40000 by a company that estimates that the patent has

A
patent is purchased for $40000 by a company that estimates that the patent has
a useful life of 5 years. Because the majority of intangibles are amortized on
a straight-line basis the company decides to amortize the $40000 patent over
a five year period on a straight-line basis. I know that on a straight-line
basis periodic amortization amounts to $8000 (i.e. $40000/5). My question is
ifthat same patent was
estimated to have a useful life of 5 years but was actually outdated by 3 years
how would the company account for this error by way of a journal entry?