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Exercise 9-11 These are selected 2017 transactions for Wyle Corporation: Jan. 1Purchased a copyright for $120,000. The copyright has a useful life of6years and a

Exercise 9-11

These are selected 2017 transactions for Wyle Corporation:

Jan. 1Purchased a copyright for $120,000. The copyright has a useful life of6years and a remaining legal life of30years.Mar. 1Purchased a patent with an estimated useful life of4years and a legal life of20years for $54,000.Sept. 1Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite.

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