In early January 2016, Culver Corporation applied for a trading name, incurring legal costs of $8,500. In January 2017, Culver incurred $3,950 of legal fees in a successful defense of its trade name. The company amortized the trade name over 10 years.

Compute the 2018 amortization and the 12/31/18 book value, assuming that at the beginning of 2018, based on new market research, Culver determines that the fair value of the trade name is $6,240. Estimated total future cash flows from the trade name is $8,600 on January 3, 2018.

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