Barkley Corp. obtained a trade name in January 2016, incurring legal costs of $72,000. The company amortizes the trade name over 8 years on a straight line basis. Barkley successfully defended its trade name in January 2017, incurring $19,600 in legal fees. In January 2018, based on new marketing research, Barkley determines that the fair value of the trade name is $60,000. Estimated future net cash flows from the trade name are $64,000.