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Question - A business was purchased from an unrelated party for $250,000 at the beginning of 2015. Of this amount $80,000 was paid for a patent with a remaining life of 8 years, $90,000 covenant not to compete for 12 years, and the remaining amount is applicable to goodwill. What is the amount of the amortization deduction for 2015?
a. $10,667.
b. $16,667
c. $20,000.
d. $32,667.
Compute KF Corporation's depreciation deduction for the car for 2013, 2014, and 2015 if the maximum depreciation (including bonus depreciation) was claimed
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