3.Benson and Sons purchased an intangible asset for use in their business (the asset is subject to amortization). At the time of purchase, the asset had a remaining legal life of five years (its original legal life was 20 years). However, Benson and Sons is only planning on using the asset for three years. Which of the following statements is correct? The intangible asset should be amortized of a period of 3 years. The intangible asset should be amortized of a period of 20 years. The intangible asset should be amortized of a period of 5 years. Since Benson and Sons didn't create the intangible asset, they should expense the full purchase price in the period of the purchase