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Exercise 12-07 In early January 2019, Cheyenne Corporation applied for a trade name, incurring legal costs of $16,000. In January 2020, Cheyenne incurred $8,100 of legal fees in a successful defense of its trade name. Compute 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value if the company amortizes the trade name over 10 years. $ 2019 amortization 12/31/19 book value 2020 amortization 12/31/20 book value $ $ $ Compute the 2020 amortization and the 12/31/20 book value, assuming that at the beginning of 2020, Cheyenne determines that the trade name will provide no future benefits beyond December 31, 2023. $ 2020 amortization 12/31/20 book value $ Ignoring the response for part (b), compute the 2021 amortization and the 12/31/21 book value, assuming that at the beginning of 2021, based on new market research, Cheyenne determines that the fair value of the trade name is $14,720. Estimated total future cash flows from the trade name is $15,920 on January 3, 2021. 2021 amortization $ 12/31/21 book value