How much would petra amortize the goodwill for first year

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Problem 1: Petra Company purchased goodwill from Petraco Company for $200,000. Petraco had developed the goodwill over 10 years. How much would Petra's amortize the goodwill for its first year?

Option 1: $0

Option 2: $20,000

Option 3: $40,000

Option 4: $200,000

Problem 2: The exclusive right to use a certain name or symbol is called a

Option 1: Franchise

Option 2: patent

Option 3: trademark

Option 4: copyright

Reference no: EM132669691

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