CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 12-07 In early January 2019, Grouper Corporation applied for a trade name, incurring legal costs of $16,400. In January 2020, Grouper incurred $9,000 of legal fees in a successful defense of its trade Compute 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value the company amortizes the trade name over 10 years. 2019 amortization 12/31/19 book value 2020 amortization 12/31/20 book value Compute the 2020 amortization and the 12/31/20 book value, assuming that at the beginning of 2020, Grouper determines that the trade name will provide no future benefits beyond December 31, 2023 3 2020 amortization 12/31/20 book value Ignoring the response for part (b), compute the 2021 amortization and the 12/31/21 book value, assuming that at the beginning of 2021, based on new market research Grouper determines that the fair value of the trade name is $14,000. Estimated total future cash rows from the trade name is $16,080 on January 3, 2021. 2021 amortization 12/31/21 book value Click if you would like to show Work for this question On Show Work Question Attemptsi 0 of 10 used AVE FOR LATER SUBMIT