On January 1 of the current​ year, Dentux Corp. purchases a patent from another corporation for​ $600,000. The patent has a remaining life of 10 years. The patent is the only asset purchased from that corporation. Also on January​ 1, Dentux purchases all of the assets of Fenton Corp. Included in the Fenton assets acquired is a patent worth​ $300,000 that has a 10minusyear remaining life. What is the allowable amortization deduction on the two​ patents?

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Solution 80000 is the allowable amortization Deduction on the two patents ... View the full answer