Required information Problem 10-71 (LO 10-4) (Algo) The following information appies to the questions displuyed below] On May 1 of year t ingrid acquired the competing business for $390,000 ingnd allocated $55,000 of the purchase price to goodwil. ingrid's business reports its taxable income on a calendar-year basis Note: Do not round intermedlote calculations. Pound your answers to the nearest whole doliar amount. Problem 10-71 Part a (Algo) 0. How muct amortization expense on the goodwil can ingnd deduct in year 1 year 2 and year 3 ? Required information Probiem 10.71 (LO 10.4) (Algo) The rolowing intormatson apples to the questions chiplased below! Atet several proftable years running her business, Ingrid decioed to acquirg the assets of a small competing business. On May 1 of year 1 , ingnd acquired the competing business for $390,000 ingrod allocated $65,000 of the purchase price Note: Do not round intermediete calculations. Pound your answers to the nearest whole doller amount. Problem 10-71 Part b (Algo) amorozation expense on the phone ist can ingrid deduct in year t, year 2 , and year 3