Required information Problem 10-71 (LO 10-4) (Static) Skip to question [The following information applies to the questions displayed below.] After several profitable years running her business, Ingrid decided to acquire the assets of a small competing business. On May 1 of year 1, Ingrid acquired the competing business for $300,000. Ingrid allocated $50,000 of the purchase price to goodwill. Ingrids business reports its taxable income on a calendar-year basis. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Problem 10-71 Part b (Static) b. In lieu of the original facts, assume that Ingrid purchased only a phone list with a useful life of five years for $10,000.

How much amortization expense on the phone list can Ingrid deduct in year 1, year 2, and year 3?