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8:01 ABC Company purchases a patent on January 1, 2021, for $30,000 and the patent has an expected useful life of five years with no

8:01 ABC Company purchases a patent on January 1, 2021, for $30,000 and the patent has an expected useful life of five years with no residual value. Assuming ABC Company uses the straight-line method, what is the amortization expense for the year ended December 31, 2022? Multiple Choice $30,000. $0. $12,000. $6,000image text in transcribed

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