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On January 2, 2017, Ivanhoe Co. bought a trademark from Royce, Inc. for $2020000. An independent research company estimated that the remaining useful life of
On January 2, 2017, Ivanhoe Co. bought a trademark from Royce, Inc. for $2020000. An independent research company estimated that the remaining useful life of the trademark was 10 years. Its unamortized cost on Royce's books was $1520000. In Ivanhoe's 2017 income statement, what amount should be reported as amortization expense?
$202000.
$152000.
$101000.
$76000.
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