An entity purchases a trademark and incurs the following costs in connection with the trademark:

One-time trademark purchase price	$100,00
Nonrefundable VAT taxes	5,000
Training sales personnel on the use of the new trademark	7,000
Research expenditures associated with the purchase of the new trademark	24,000
Legal costs incurred to register the trademark	10,500
Salaries of the administrative personnel	12,000

Assuming that the trademark meets all of the applicable initial asset recognition criteria, the entity should recognize an asset in the amount of

-$100,000

-$115,500

-$146,500

-$158,500