xercise 12-07 early January 2019, Bridgeport Corporation applied for a trade name, incurring legal costs of $15,200. In January 2020, Bridgeport incurred 57,920 of legal fees in a successful defense of its trade name. your answer is correct. ompute 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value if the company amortizes the trade name over 10 years 019 amortization 1620|| 2/31/19 book value 145801 020 amortization 25001 2/31/20 book value 20000 SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO VIDEO x your answer is incorrect. Try again. ompute the 2020 amortization and the 12/31/20 book value, assuming that at the beginning of 2020, Bridgeport determines that the trade name will provide no future benefits beyond December 31, 2023. 020 amortization 2/31/20 book value LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO VIDEO x your answer is incorrect. Try again. gnoring the response for part (b), compute the 2021 amortization and the 12/31/21 book value, assuming that at the beginning of 2021, based on new market research, Bridgeport determines that the fair value of the trade name is $14,640. Estimated total future cash flows from the trade name is $15,840 on January 3, 2021. 021 amortization 2/31/21 book value lick if you would like to Show Work for this question: Open Show Work