On January 2, 2019, Adelphi Company purchased a patent for $200,000 plus $7,000 in legal fees. On that date, the patent had a remaining legal life of 13 years. Adelphi Company expects to use the patent for 9 years after which time it will be worthless. How much is the annual amortization expense for 2019? Round to nearest whole dollar.

Annapolis Company was recently sold for $500,000. Annapolis had assets & liabilities appraised at the time of the sale in the amounts of:

Item	Amount
Accounts Receivable assumed by buyer	$135,000
Inventory	$275,000
Property, Plant & Equipment (net)	$545,000
Notes Payable assumed by buyer	$645,000

Using this information, how much should be recorded as Goodwill for this transaction?