In early January 2016, Bramble Corporation applied for a trade name, incurring legal costs of $16,080. In January 2017, Bramble incurred $7,880 of legal fees in a successful defense of its trade name.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

2016 amortization

12/31/16 book value

2017 amortization

12/31/17 book value

Compute the 2017 amortization and the 12/31/17 book value, assuming that at the beginning of 2017, Bramble determines that the trade name will provide no future benefits beyond December 31, 2020.

2017 amortization

12/31/17 book value Ignoring the response for part (b), compute the 2018 amortization and the 12/31/18 book value, assuming that at the beginning of 2018, based on new market research, Bramble determines that the fair value of the trade name is $14,560. Estimated total future cash flows from the trade name is $15,760 on January 3, 2018.

2018 amortization

12/31/18 book value