Compute amortization expense.

(LO4), AN

These are selected 2017 transactions for Wyle Corporation:

Jan.

1

Purchased a copyright for $120,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years.

Mar.

1

Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $54,000.

Sept.

1

Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite.

Instructions

Indicate the amount of amortization expense on December 31, 2017, for Wyle Corporation