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Assume that Oriole Inc. purchases a customer list for $416000. Legal costs to complete the transaction cost $14700 and the list is assumed to have

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Assume that Oriole Inc. purchases a customer list for $416000. Legal costs to complete the transaction cost $14700 and the list is assumed to have a useful life of 10 years. At the beginning of year three, Oriole Inc. discovers that there is currently an active market for customer lists, and it is expected that at the end of 10 years the list would be worth $87400. What is the carrying value of the customer list at the end of year three? $305145.$312415.$297715.$430700

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