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Problem $2-71($LO $2-4)($Algo$)$

$[$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 $$360,000.$ Ingrid allocated $$60,000$ of the purchase price to

goodwill. Ingrid's business reports its taxable income on a calendar$-$year basis.

Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.

Problem $2-71$ Part b $($Algo$)$

b$.$ In lieu of the original facts, assume that Ingrid purchased only a phone list with a useful life of five years for $$15,000.$ How much

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