Exercise 12-7 In early January 2016, Bramble Corporation applied for a trade name, incurring legal costs of $16,080. In January 2017, Bramble incurred $7,880 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 0 decimal places, e.g. 8,564) 2016 amortization 12/31/16 book valuel 2017 amortization 12/31/17 book vaiue s Compute the 2017 amortization and the 12/31/17 book value, assuming that at the beginning of 2017, Bramble determines that the trade name will provide no future benefits beyond December 31, 2020. 2017 amortization 12/31/17 book value LINK TO TEXTLINK TO TEXT VIDEO: SIMILAR EXERCISE Ignoring the response for part (b), compute the 2018 amortization and the 12/31/18 book value, assuming that at the beginning of 2018, based on new market research, Bramble determines that the fair value of the trade name is $14,560. Estimated total future cash flows from the trade name is $15,760 on January 3, 2018. 2018 amortization 12/31/18 book value