Alisa acquired a competing business in March of 2021. The total purchase price was $750,000. Alisa...
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Alisa acquired a competing business in March of 2021. The total purchase price was $750,000. Alisa allocated $700,000 to the tangible personal property she received. The $50,000 premium was allocated to a patent that she received as part of buying the business. The patent has a remaining useful life of 6 years. What is the recovery period for the patent as Alisa calculates her amortization deduction? A-0 years; she cannot amortize this asset B-6 years C-15 years Alisa acquired a competing business in March of 2021. The total purchase price was $750,000. Alisa allocated $700,000 to the tangible personal property she received. The $50,000 premium was allocated to a patent that she received as part of buying the business. The patent has a remaining useful life of 6 years. What is the recovery period for the patent as Alisa calculates her amortization deduction? A-0 years; she cannot amortize this asset B-6 years C-15 years
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Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
Posted Date:
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