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After several profitable years running her business, Ingrid decided to acquire the assets of a small competing business. On May 1 of year 1 ,
After several profitable years running her business, Ingrid decided to acquire the assets of a small competing business.
On May of year Ingrid acquired the competing business for $ Ingrid allocated $ of the purchase price to goodwill. Ingrid's business reports its taxable income on a calendaryear basis.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem Part b Static
b In lieu of the original facts, assume that Ingrid purchased only a phone list with a useful life of five years for $ How much amortization expense on the phone list can Ingrid deduct in year year and year
tablePhone ListYear amortization expense,$Year amortization expense,,Year amortization expense,$
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