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A calendar-year taxpayer purchases a new business on April 1. The contract provides the following price allocation: customer list $100,000, trade name $50,000, goodwill $90,000.
A calendar-year taxpayer purchases a new business on April 1. The contract provides the following price allocation: customer list $100,000, trade name $50,000, goodwill $90,000. What is the amortization deduction for the current year?
$16,000
$8,000
$3,000
$6,000
$12,000
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