Rich Corporation Purchased a Limited-Life Intangible Asset for $210,000 on May

question 92

Multiple Choice

Rich Corporation purchased a limited-life intangible asset for $210,000 on May 1, 2009.It has a useful life of 10 years.What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2011?

• A)$ -0-.
• B)$42,000
• C)$56,000
• D)$63,000

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