Bricktown Exchange purchases a copyright for $50,000. The copyright has a remaining legal life of 25 years, but only an expected useful life of five years with no residual value. Assume the company uses the straight-line method to record amortization. What is the amortization expense for the first year? Multiple Choice S0. $2,000. $3,333. $10,000. A company purchased new equipment for $60,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1.000: sales tax paid $3.000; and installation cost, $2,500. The cost recorded for the equipment was: Multiple Choice $60.000. $61.000. S64.000. $66,500