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These are selected 2017 transactions for Novak Corporation: Jan. 1 Purchased a copyright for $93,600. The copyright has a useful life of 6 years and
These are selected 2017 transactions for Novak Corporation:
Jan. 1 | Purchased a copyright for $93,600. The copyright has a useful life of 6 years and a remaining legal life of 35 years. | |
Mar. 1 | Purchased a patent with an estimated useful life of 5 years and a legal life of 25 years for $85,200. | |
Sept. 1 | Purchased a small company and recorded goodwill of $151,550. Its useful life is indefinite. |
Indicate the amount of amortization expense on December 31, 2017, for Novak Corporation
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