An entity that sells DVDs by sending emails to prospective customers has acquired a customer list from another entity that also markets its products in a similar fashion. The entity estimates that it will generate sales from the list for a minimum of two years, and a maximum of three years. The entity intends to add names to the list from answers to a questionnaire attached to each of the emails. This should extend the useful life of the list for another year. 

Discuss how the entity should account for the cost of the customer list. If the cost is capitalised, discuss the determination of the useful life over which the asset will be amortised.