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What will company report as amortization expense

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Question - Assume Company has a calendar reporting year. Company purchased a patent on 7/1/Year1 for $500,000. The patent has a remaining legal life of 10 years. Company expects the patent to only be useful for 4 years, however.

What will Company report as amortization expense of this patent for the year ended 12/31/Year 1?

What will Company report as amortization expense of this patent for the year ended 12/31/Year 2?

Reference no: EM133148315

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