Question: 30. On January 1, Fast, Inc. entered into a covenant not to compete with Swift, Inc. for a period of five years, with an option

30. On January 1, Fast, Inc. entered into a covenant not to compete with Swift, Inc. for a period of five years, with an option by Swift to extend it to seven years. What is the amortization period of the covenant for tax purposes?

a. 5 years.

b. 7 years.

c. 15 years.

d. 17 years.

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