What is the amount of amortization expense for goodwill

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Question - On January 1, 20X3, Stacy Company purchased the College Book Store for $350,000. At the date of purchase, it was determined the recorded assets had a total market value of $325,000, comprised of inventory (books), $275,000; fixtures, $30,000; and other assets $20,000. It is estimated that the goodwill (if any) has an economic useful life of 20 years. What is the amount of amortization expense for goodwill for 20X3?

$17,500

$0

$1,250

$16,250

Reference no: EM132234208

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