In early January 2016, Swifty Corporation applied for a trade name, incurring legal costs of $ 7,200. In January 2017, Swifty incurred $ 4,500 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. (Round all answers to O decimal places, eg. 8,564) 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, Swifty determines that the trade name will provide no future benefits beyond December 31, 2020. (Round all answers to O decimal places, e.g. 8,564) 2017 amortization $ 12/31/17 book value $ e Textbook and Media Solution 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, Swifty determines that the fair value of the trade name is $ 7,120. Estimated total future cash flows from the trade name is $8,600 on January 3, 2018. (Round all answers to O decimal places, eg. 8,564) 2018 amortization $ 12/31/18 book value $