Data related to the acquisition of timber rights and intangible assets during the current year anded December 3tarflow: a. On December 31, the company determined that $750,000 of good was impaired. b. Governmental and legal costs of $9,200,000 were incurred on September 30 in obtaining a potent with an estimated economic life of 10 years. Amortation is to be for one fourth of a year Timber rights on a tract of land were purchased for $1.725,000 on February 4. The stand of umber is estimated : 7.500,000 boord doet. During the current you, 2,000,000 board feet of timber were cut and sold Required: 1. Determine the amount of the amortization, depletion, or impairment for the current year for each of the foregoing turne. Da net round your intermediate calculation Item Impairment, Amortization or Depletion Expanse 750,000 3 Accounting man eld For Check My Work Intangible sets with indefinite lives are tested annually for impairment. Intangible assets with intered in the straight to the depletion rate stays constant. 2. Youmalize the justing entries required to record the amortization, Depletion of pairment for each item Imnairment of Goodwill