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Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: $33,900 Patent with 4 remaining
Dynamo Manufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: $33,900 Patent with 4 remaining years of legal life Goodwill 43,200 Dynamo's financial condition just prior to the acquisition of these assets is shown in the following statements model Assets Exp. Net Inc. Cash Flow Liab. Equity Rev. Cash Patent Goodwill NA 85,400 NA NA NA 85.400 NA NA NA Required: a. Compute the annual amortization expense for these items. Patent per year
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