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What amount should be reported as amortization expense

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Question - On January 2, 2017, Ivanhoe Co. bought a trademark from Royce, Inc. for $2020000. An independent research company estimated that the remaining useful life of the trademark was 10 years. Its unamortized cost on Royce's books was $1520000. In Ivanhoe's 2017 income statement, what amount should be reported as amortization expense?

$202000.

$152000.

$101000.

$76000.

Reference no: EM132251852

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