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Shermek Corp purchased Berk Corp on January 1, 2019 and acquired the following intangible assets. Calculate the total amortization expense for these assets. Asset Cost

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Shermek Corp purchased Berk Corp on January 1, 2019 and acquired the following intangible assets. Calculate the total amortization expense for these assets. Asset Cost Goodwill $100,000 5-year non-compete agreement $60,000 Patent (20 year legal life) $25,000

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