Chesapeake Inc. acquired a registered trademark for $600,000. The trademark has a remaining legal life of 5 years but can be renewed every 10 years for a nominal fee. Chesapeake expects to renew the trademark indefinitely. What amount of amortization expense should Chesapeake record for the trademark in the current year? $120,000 O $40.000 O $15,000 O $0 Question 12 1 pts Chesapeake Inc. acquired a registered trademark for $600,000. The trademark has a remaining legal life of 5 years but can be renewed every 10 years for a nominal fee. Chesapeake does not expect to renew the acquired trademark when the legal life is over. What amount of amortization expense should Chesapeake record for the trademark in the current year? $15.000 O $0 O $120,000 $40,000