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A taxpayer acquires a business on June 1 of the current year. Included in the purchase price was $12,000 for the purchase of a three-
A taxpayer acquires a business on June 1 of the current year. Included in the purchase price was $12,000 for the purchase of a three- year covenant not to compete. The taxpayer's amortization expense with respect to the covenant for the current year is: O A. $800. B. $4,000 C. $467. D. $2,333. E. none of the above
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