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E10.16 (LO 4) Nelson Company, organized in 2020, has the following transactions related to intangible ARSets 1/2/20 4/1/20 7/1/20 11/1/20 Purchased patent (7-year life) Goodwill
E10.16 (LO 4) Nelson Company, organized in 2020, has the following transactions related to intangible ARSets 1/2/20 4/1/20 7/1/20 11/1/20 Purchased patent (7-year life) Goodwill purchased (indefinite life) 8-year franchise; expiration date 7/1/2028 Research and development costs incurred prior to technological feasibility $560,000 360,000 440,000 448,000
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