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Assume that Cannon LLC acquires a competitor's assets on June 15th. The purchase price was $450,000. Of the amount, $196,200 is allocated to the tangible

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Assume that Cannon LLC acquires a competitor's assets on June 15th. The purchase price was $450,000. Of the amount, $196,200 is allocated to the tangible assets and the balance to $197 intangible assets. What is Cannon LLC's amortization expense related to Section 197 assets for the year

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