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Oliver, an insurance agent and sole practitioner, decided to sell his insurance agency to Grace. Under the terms of the sales agreement, Grace paid $8,000

Oliver, an insurance agent and sole practitioner, decided to sell his insurance agency to Grace. Under the terms of the sales agreement, Grace paid $8,000 for the goodwill that Oliver had garnered throughout his insurance career. The purchase was completed on March 3, 2021. What is Grace's 2021 deduction for amortization?

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