Mike Saxon is negotiating the purchase of a business. The final p the purchase price to the assets is still being discussed. Appraisals on a warehouse range from $1,200,000 to $1,500,000. If a value of $1,200,000 is used for the warehouse, the remainder of the purchase price, $800,000, will be allocated to goodwill. If $1,500,000 is allocated to the warehouse, goodwill will be $500,000 Mike wants to know what effect each alternative will have on cost recovery and amortization during the first year Under the agreement, Mike will take over the business on January 1 of next year Click here to access the depreciation table to use for this problem a. Complete the letter to Mike. If required, round your intermediate computations and final answers to the nearest dollar. Maloney, Hoffman, Raabe, & Young, CPAS 5191 Natorp Boulevard Mike Saxon is negotiating the purchase of a business. The final p the purchase price to the assets is still being discussed. Appraisals on a warehouse range from $1,200,000 to $1,500,000. If a value of $1,200,000 is used for the warehouse, the remainder of the purchase price, $800,000, will be allocated to goodwill. If $1,500,000 is allocated to the warehouse, goodwill will be $500,000 Mike wants to know what effect each alternative will have on cost recovery and amortization during the first year Under the agreement, Mike will take over the business on January 1 of next year Click here to access the depreciation table to use for this problem a. Complete the letter to Mike. If required, round your intermediate computations and final answers to the nearest dollar. Maloney, Hoffman, Raabe, & Young, CPAS 5191 Natorp Boulevard