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Required information The following information appiles to the questions displayed below] After severai profitable years running her business, Ingrid decided to acquire the assets of
Required information The following information appiles to the questions displayed below] After severai profitable years running her business, Ingrid decided to acquire the assets of a small competing business. On May 1 of year 1, Ingrid acquired the competing business for $360,000. Ingrid allocated $60,000 of the purchase price to goodwilit, Ingrid's business reports its taxable income on a calendar-year basis. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. a. How much amortization expense on the goodwill can Ingrid deduct in year 1, year 2 , and year 3
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