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What amount should be recorded as amortization

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Reference no: EM132640323

Question - At the beginning of current year, Marble company bought a franchise from Wood company for 2,040,000.

An independent consultant estimated that the remaining useful life of the franchise was 50 years.

The unamortized cost of franchise was 680,000. Marble company has decided to amortize the franchise over the maximum period allowed.

Required - What amount should be recorded as amortization of franchise for the current year?

A. 40,800

B. 40,000

C. 51,000

D. 17,000

Reference no: EM132640323

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