Exercise 12-7 In early January 2016, Blue Corporation applied for a trade name, incurring legal costs of $16,920. In January 2017, Blue incurred $8,720 of legal fees in a successful defense of its trade name Compute 2016 amortization, 12/31/16 book value, 2017 amortization, and 12/31/17 book value if the company amortizes the trade name over 10 years. (Round all answers to O decimal places, e.g.8,564) 2016 amortization 12/31/16 book value 2017 amortization 12/31/17 book value $ Compute the 2017 amortization and the 12/31/17 book value, assuming that at the beginning of 2017, Blue determines that the trade name will provide no future benefits beyond December 31, 2020. 2017 amortization 12/31/17 book value