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Sengi Co. spent $4,401,300 on research and development and $330,100 in legal fees to develop a trademark. The development team believes the useful life will

Sengi Co. spent $4,401,300 on research and development and $330,100 in legal fees to develop a trademark. The development team believes the useful life will be at least 12 years. How much should Sengi Co. record as amortization expense on this asset in the first year of its useful life?

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