Calculate the annual amortization of the copyright

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Reference no: EM13914257

Complete the following requirements regarding amortizing copyrights and trademarks:

1. Argyle Publishing Company purchased the copyright to a basic computer textbook for $40,000. The usual life of a textbook is about four years. However, the copyright will remain in effect for another 50 years. Calculate the annual amortization of the copyright.

2. Accounting Connection- Scion Company purchased a trademark from a well- known supermarket for $320,000. The company's management argued that the trademark's useful life was indefinite. Explain how the cost should be accounted for.

Reference no: EM13914257

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