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Question 11 Not yet answered Points out of 5.00 Flag question The following information is available on a company for the year 2020: Purchased a customer list for $200,000, which is expected to provide equal annual benefits for the next 4 years. Recorded $200,000 of goodwill in the acquisition of a competitor. It is estimated that the acquisition would provide substantial benefits for the company for at least the next 10 years. Spent $300,000 on media placements announcing the company had donated products and services to the community. The CEO believes the firm's reputation was enhanced substantially and the company will likely benefit from it for the next 5 years. Based on those events, the amortization expense that the company should report in 2020 is closest to: Select one: a. $130,000 b. $110,000 c. $80,000 d. $50,000 e. $70,000