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Michelle owns a rental property and puts the following intangible assets in service in 2020: Mortgage Closing Costs, in-service 6/15, $12,000, 5 YR life Lease
Michelle owns a rental property and puts the following intangible assets in service in 2020:
Mortgage Closing Costs, in-service 6/15, $12,000, 5 YR life
Lease Commission, in-service 9/30, $25,200, 7 YR life Both are amortizable intangible assets. How much amortization expense can Michelle take in 2020?
a. $2100
b. None of these
c. $2350
d. $2600
e. $6001
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