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Orange Corporation acquired all of the assets of Lemon Company for $10,000,000. The fair market value of the tangible assets totaled $8,000,000. The $2,000,000 difference
Orange Corporation acquired all of the assets of Lemon Company for $10,000,000. The fair market value of the tangible assets totaled $8,000,000. The $2,000,000 difference is considered goodwill. Orange Corporation expects to continue its business operations for at least 40 years. What is its annual amortization deduction for the goodwill? Enter your final answer without using commas or dollar sign, e.g., 5225. Answer: 50000
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