Question: Fuzziwigs Candles has two intangible assets. Information concerning each is provided in the following table: Goodwill Trademark Date of purchase June 30, 2012 January 1,

Fuzziwigs Candles has two intangible assets. Information concerning each is provided in the following table:

Goodwill Trademark
Date of purchase June 30, 2012 January 1, 2012
Cost $500,000 $250,000
Legal life None 10 years
Useful life 40 years 5 years

Calculate the amount of amortization expense that should be reported for 2012.

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