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Hurdy. It's consolidated financial statements contain the following acquired intangibles as a result: Intangible Asset Date of Acquisition FV at acauisition date Useful life Goodwill

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Hurdy. It's consolidated financial statements contain the following acquired intangibles as a result: Intangible Asset Date of Acquisition FV at acauisition date Useful life Goodwill was assigned to the following reporting units: It is now December 31, 2022 and Monty must review its intangible assets for impairment. No impairment losses were reported in 2021. Additional information at December 31, 2022 follows: Required: 1. For intangibles having definite lives: a. compute amortization expense for 2021 and 2022. b. Perform the test to determine if these assets are impaired, and if so, compute any impairment losses. 2. Ignoring the qualitative option for goodwill and other indefinite-life intangibles, compute any impairment losses that may have occurred in 2022

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