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On January 1, 2019, Quick Quicky purchased Shelf Co. at a cost that resulted in recognition of goodwill of $200,000 having an expected benefit period
On January 1, 2019, Quick Quicky purchased Shelf Co. at a cost that resulted in recognition of goodwill of $200,000 having an expected benefit period of 10 years. On December 1, 2019, Quick Quicky spent another $80,000 to maintain goodwill, which extended the life of goodwill to 40 years. How much should be reported as goodwill at December 31, 2019?
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