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Augustus1 Augustus1
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7 years ago
On January 1, 2010, Charlie Corporation acquires all of the net assets of Rocky Corporation for $2,000,000. The following intangible assets are included in the purchase agreement:

Assets   Acquisition Cost
Goodwill and going concern value   $105,000
Licenses   $   45,000
Patents   $   60,000
Covenant not to compete for five years   $120,000

What is the total amount of amortization allowed in 2010?
A) $15,000
B) $22,000
C) $31,000
D) $38,000
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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Augustus1 Author
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#2
7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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