Question: Brief Exercise 7-14 (Static) Calculate amortization expense (LO7-5) In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain.

Brief Exercise 7-14 (Static) Calculate amortization expense (LO7-5) In early January,

Brief Exercise 7-14 (Static) Calculate amortization expense (LO7-5) In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following items: \$4 million, patent; \$5 million, trademark considered to have an indefinite useful life; and $6 million, goodwill. Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. What is the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended Answer is complete but not entirely correct

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