How will this problem be solved under US GAAP rules vs IAS rules and what is the difference?

10. abc Ltd purchased a 5 year fishing license for $100 000. The company expects to renew the license at the end of the 5 year period for a further 5 years. The government has indicated that they will re-grant the license to abc Ltd. Required: Discuss the number of years over which the license should be amortized assuming that the costs associated with the renewal is: A. $100; or B. $99,0 00. 10. abc Ltd purchased a 5 year fishing license for $100 000. The company expects to renew the license at the end of the 5 year period for a further 5 years. The government has indicated that they will re-grant the license to abc Ltd. Required: Discuss the number of years over which the license should be amortized assuming that the costs associated with the renewal is: A. $100; or B. $99,0 00