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Question 10 (10 points) XYZ purchases a business from ABC on April 1, 2020 and paid the following Land Building Goodwill Going concern value Workforce

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Question 10 (10 points) XYZ purchases a business from ABC on April 1, 2020 and paid the following Land Building Goodwill Going concern value Workforce in place $ 500.000 1,500,000 120,000 225,000 87,000 a How much of the purchase price is for section 197 intangible assets? b. What amount can XYZ deduct in 2020 for section 197 intangible amortization? What amount can XYZ deduct in 2021 for section 197 intangible amortization

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