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Ajax Co. bought a limited life intangible asset for $600,000 on January 2, 2015, at which time the asset had an estimated useful life of
Ajax Co. bought a limited life intangible asset for $600,000 on January 2, 2015, at which time the asset had an estimated useful life of ten years. On February 2, 2019, it was determined that the asset's useful life would expire at the end of 2021. How much would Ajax record as amortization expense for this intangible asset for the year ending December 31, 2019? $60,000 $120,000 $140,000 $105,000
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