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Mirage Industries recently purchased a trademark from a competitor at a cost of $550,000. Mirage paid $12,000 in legal fees to complete the transaction and

Mirage Industries recently purchased a trademark from a competitor at a cost of $550,000. Mirage paid $12,000 in legal fees to complete the transaction and ensure that all of the necessary paperwork was completed. An additional $75,000 was paid for a marketing campaign to ensure that all of Mirage's customers knew the trademark, and its related products now belonged to Mirage Industries. 


How much will Mirage recognize as an intangible asset for this trademark?

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