After several profitable years running her business, BLANK decided to acquire the assets of a small competing business. On May 1 of year 1, BLANK acquired the competing business for $372,000. BLANK allocated $62,000 of the purchase price to goodwill. BLANKs business reports its taxable income on a calendar-year basis. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)

a. How much amortization expense on the goodwill can BLANK deduct in year 1, year 2, and year 3?

YEAR 1=

YEAR 2=

YEAR 3=

In lieu of the original facts, assume that BLANK purchased only a phone list with a useful life of 5 years for $16,000. How much amortization expense on the phone list can BLANK deduct in year 1, year 2, and year 3?

YEAR ONE AMORTIZATION EXPENSE=

YEAR TWO AMORTIZATION EXPENSE=

YEAR THREE AMORTIZATION EXPENSE=