Jorge Purchased a Copyright for Use in His Business in the Current

question 55

Multiple Choice

Jorge purchased a copyright for use in his business in the current year. The purchase occurred on July 15 ^th and the purchase price was $66,000. If the copyright has a remaining life of 75 months, what is the total amortization amount Jorge may deduct during the current year? (Assume this is not an asset acquisition to which §197 applies.)

• A) $0
• B) $4,840
• C) $5,280
• D) $10,560
• E) None of the choices are correct.

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