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Exercise 8-26 (Algorithmic) (LO. 7) On October 1, 2021, Vernica purchased a business. Of the purchase price, $78,000 is allocated to a patent and $468,000

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Exercise 8-26 (Algorithmic) (LO. 7) On October 1, 2021, Vernica purchased a business. Of the purchase price, $78,000 is allocated to a patent and $468,000 to goodwill. If required, round your intermediate values to nearest dollar and use in subsequent computations. Calculate Vernica's 2021 $ 197 amortization deduction

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