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Over what period would you amortize the following intangible assets? Asset A: A patent was purchased. Original legal life is 20 years. There are 16

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Over what period would you amortize the following intangible assets? Asset A: A patent was purchased. Original legal life is 20 years. There are 16 years remaining of the legal life. The firm that purchased the patent believes the useful life of the patent to be 8 years. Asset B: A firm purchases a trademark. The trademark has 6 years of legal protection remaining. The firm can extend the legal life of the trademark if it is still in use. Management plans to do so. Asset A: 16 years Asset B: 6 years Asset A: 8 years Asset B: 6 years Asset A: 16 years Asset B: Indefinite O None are correct O Asset A: 8 years Asset B: Indefinite

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