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Question : From the following information, :

Particulars	Closing Balance (Rs)	Opening Balance (Rs)
Machinery (at cost)	4,20,000	4,00,000
Accumulated depreciation	1,10,000	1,00,000
Patents	1,60,000	2,80,000

Additional Information:
1. During the year, a machine costing Rs 40,000 with an accumulated depreciation of Rs 24,000 was sold for Rs 20,000.
2. Patents written off were Rs 40,000 and some patents were sold at a profit of Rs 20,000.
Question:
Value of patent purchased____________.

Option 1: Rs 40,000

Option 2: Rs 60,000

Option 3: Rs 20,000

Option 4: None of the above.