Question
On June 28 Lexicon Corporation acquired 100% of the common stock of Gulf & Eastern. The purchase price allocation included the following items: $5.3 million,
On June 28 Lexicon Corporation acquired 100% of the common stock of Gulf & Eastern. The purchase price allocation included the following items: $5.3 million, patent; $4.3 million, developed technology; $3.3 million, in-process research and development; $6.3 million, goodwill. Lexicons policy is to amortize intangible assets using the straight-line method, no residual value, and a five-year useful life. What is the total amount of expenses (ignoring taxes) that would appear in Lexicons income statement for the year ended December 31 related to these items
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