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Alatorre purchased the license for distribution of a

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Alatorre purchased the license for distribution of a popular consumer product on January 1, 2014, for $141,300. It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal fee, Alatorre can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended December 31, 2014?

Reference no: EM13594323

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