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What amount of amortization expense recognised on benji

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Reference no: EM132493083

Question 1: On October 1, 2019, Benji Corporation purchased a patent for $100,000. The patent has a legal life of 20 years, and an estimated useful life of 8 years with no residual value. The amount of amortization expense recognised on Benji's December 31, 2019 year end, would be:

Option 1: $3,125

Option 2: $12,500

Option 3: $5,000

Option 4: $1,250

Reference no: EM132493083

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