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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 1 of year 1, Ingrid acquired the competing business for $300,000. Ingrid allocated $50,000 of the purchase price to goodwill. Ingrid's business reports its taxable income on a calendar-year basis.
Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.
Problem 10-71 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 $10,000. How much amortization expense on the phone list can Ingrid deduct in year 1, year 2, and year 3?
\table[[,Phone List],[Year 1 amortization expense,$,0],[Year 2 amortization expense,,],[Year 3 amortization expense,$,2,000]]
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