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On January 2, 2025, Willis Co. bought a trademark from Rice, Inc. for $1,500,000. An independent research company estimated that the remaining useful life of

On January 2, 2025, Willis Co. bought a trademark from Rice, Inc. for $1,500,000. An independent research company estimated that the remaining useful life of the trademark was 10 years. Its unamortized cost on Rices books was $1,800,000. Willis expects that the trademark will produce 25% of its cash flows in year 1, 20% in year 2, 15% in year 3, and 10% in the remaining years. In Williss 2025 income statement, what amount should be reported as amortization expense

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