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Berry Co. purchases a patent on January 1, 2021, for $31,000 and the patent has an expected useful life of five years with no residual

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Berry Co. purchases a patent on January 1, 2021, for $31,000 and the patent has an expected useful life of five years with no residual value. Assuming Berry Co, uses the straight-line method, what is the amortization expense for the year ended December 31, 2022? Multiple Choice $6,200 $0. $12,400 $31.000

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