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Berry Company purchases a patent on January 1, 2024, for $40,000 and the patent has an expected useful life of five years with no residual

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Berry Company purchases a patent on January 1, 2024, for $40,000 and the patent has an expected useful life of five years with no residual value. Assuming Berry Company uses the straight-line method, what is the amortization expense for the year ended December 31, 2025? Multiple Choice $40,000 $16,000 $0 $8,000

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