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How much should be amortized for the year ended december

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Question - On January 1, 2017, Muhlenberg Corp. bought a trademark from Glasgow Corp. for $160,000. An independent consultant retained by Muhlenberg estimated that the remaining useful life is 50 years. The trademark's carrying value on Yarmouth's books was $61,000. Muhlenberg decided to write off the trademark over the maximum period allowed. How much should be amortized for the year ended December 31, 2017?

a) $4,000

b) $3,200

c) $1,220

d) $8,000

Reference no: EM132189458

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