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What is the amount of the amortization deduction

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Reference no: EM132076732

Question - A business was purchased from an unrelated party for $250,000 at the beginning of 2015. Of this amount $80,000 was paid for a patent with a remaining life of 8 years, $90,000 covenant not to compete for 12 years, and the remaining amount is applicable to goodwill. What is the amount of the amortization deduction for 2015?

a. $10,667.

b. $16,667

c. $20,000.

d. $32,667.

Reference no: EM132076732

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