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In year 1, hinkle corporation company acquired patent from a competitor for 275000. At the time of purchase, it had 12 years of its legal
In year 1, hinkle corporation company acquired patent from a competitor for 275000. At the time of purchase, it had 12 years of its legal life remainingl however, due to competition. Hinkle believes the patent will only be use for 8 years.
Calculate the amount of amortization for year 1
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