Intel Corporation Data for the year ended December 31, 2023:

Item	Amount
Intangible Assets Cost	$4,000,000
Accumulated Amortization	$1,600,000
Estimated Remaining Useful Life	5 years
Annual Amortization Expense	$500,000

1. Calculate the book value of intangible assets.
2. Determine the new amortization expense if the remaining useful life is reduced to 4 years.
3. Discuss the financial statement impact of this change in estimate.
4. Explain how the Conservatism Principle justifies changes in amortization expense.