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Exercise 8-26 (Algorithmic) (LO. 7) On October 1, 2022, Vernica purchased a business. Of the purchase price, $180,000 is allocated to a patent and

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Exercise 8-26 (Algorithmic) (LO. 7) On October 1, 2022, Vernica purchased a business. Of the purchase price, $180,000 is allocated to a patent and $1,080,000 to goodwill. If required, round your intermediate values to nearest dollar and use in subsequent computations. Calculate Vernica's 2022 197 amortization deduction. 27,000 X Feedback Check My Work Taxpayers can claim an amortization deduction on intangible assets called "amortizable 197 intangibles."

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