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What is amortization expense

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Question - On January 1, 2012. Devo purchases a patent with a 7 year remaining life for $25,000.

On January 1, 2013 Devo realizes that the patent will only last 3 remaining years. Yielding $9,000 of cash each year.

What is amortization expense during 2013 and the book value of the point on December 21, 2012 Devo borrows at 6%.

Reference no: EM131870455

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