Exercise 12-7 (Part Level Submission) 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. ? (a) Your answer is correct. 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 1692 12/31/16 book value 2017 amortization 12/31/17 book value 15228 2661 21287