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A company purchased a limited-life intangible asset for $1,162,500 on January 1 of Year 1. It has a useful life of 15 years. Which amount

A company purchased a limited-life intangible asset for $1,162,500 on January 1 of Year 1. It has a useful life of 15 years. Which amount should the balance sheet reflect for the limited-life intangible asset at the end of Year 3

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