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On January 1, 2023, Ivanhoe Corp. bought a trademark from Pharoah Corp. for $181000. An independent consultant retained by Ivanhoe estimated that the remaining useful

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On January 1, 2023, Ivanhoe Corp. bought a trademark from Pharoah Corp. for $181000. An independent consultant retained by Ivanhoe estimated that the remaining useful life is 50 years. The trademark's carrying value on Pharoah's books was $64000. Ivanhoe decided to write off the trademark over the maximum period allowed. How much should be amortized for the year ended December 31,2023 ? $3620$4525$1280$9050

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