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KowminusPow Company purchased a limitedminuslife intangible asset for $150,000 on May 1, 2015. It has a useful life of 10 years. What total amount of

KowminusPow Company purchased a limitedminuslife intangible asset for $150,000 on May 1, 2015. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2017? (Round any calculations to the nearest cent, and your final answer to the nearest dollar.)

The answer is $40,000. I want to know how to calculate.

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