1......Ted purchases a small business from Terry on September 1, 2019. He paid the following amounts for the business:

Fixed assets $400,000

Goodwill $50,000

Franchise Fees $75,000

Trademarks $25,000

Land $250,000

Total $800,000

How much of the $800,000 purchase price is for Section 197 intangible assets?

Answer: $............?

2..........Last year George loaned his brother $50,000 to pay off his credit card debt. In the current year his brother filed for bankruptcy and the $50,000 loan became worthless. How much is Georges deduction for bad debt for this year?

Answer: $.........?