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Lionel Company purchased a license on September 30, 2014 for $500,000. Lionel expects to use the license for the next ten years after which it

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Lionel Company purchased a license on September 30, 2014 for $500,000. Lionel expects to use the license for the next ten years after which it will be fully amortized. What is the value of the license in Lionel Company's financial statements for the year end of September 30, 2017? Select one: a. $150,000 b. $350,000 c. $500,000 d. $300,000

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