Question: On July 1 1 , 2 0 2 3 , Luis purchased a small software business for $ 2 0 0 , 0 0 0

On July 11,2023, Luis purchased a small software business for $200,000. He paid $120,000 for the fixed assets of the company and $80,000 for the trade name. How much amortization (rounded to the nearest dollar) may Luis deduct on his 2023 tax return for the purchased trade name?

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