What the amortization amount for the intangibles is

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Reference no: EM132700760

Problem 1: On November 1, 2020, a newly established manufacturing firm paid cash to acquire a patent for P1,200,000, a copyright for P750,000, and a franchise for P60,000. The patent expires at the end of 2024, has a total legal life of 20 years in the Philippines and is expected to produce benefits only for 5 years. The copyright has a service life of 10 years. The franchise allows the company to be exclusive sales agent for two years effective November 1, 2020. The amortization amount for the intangibles in 2020 is

Reference no: EM132700760

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