SUSINESSCourse Return to course My Subscriptions Question 2 Not complete Marked out of 2.00 P Flag question Determining Carrying Value and Amortization of Intangible Assets Review the following information pertaining to Denzel Company. 1. A patent was purchased on January 2, 2018, for 5104,000 when the remaining legal life was 16 years. On January 2, 2020, Denzel determined that the remaining useful fe of the only eight years from the date of its acquisition. 2. On January 1, 2020, Denzel Company purchased a second patent for $128,000 cash. At January 1, 2020, 6 years of the patent's legal life of 20 years had already expired. 3. On June 30, 2020, Denzel Company paid a firm $12,800 for a new trademark. Denzel considers the life of the trademark to be indefinite 4. On November 1, 2020, Denzel Company acquired all noncash assets and assumed all liabilities of Lee Company at a cash purchase price of $192,000. Denzel determined that the of the identiable net assets acquired in the transaction is $187,200 Note: When answering the following questions, do not round until your firtal answer. Round your final answer to the nearest whole number. Required a. What is the carrying value of intangible assets on December 31, 20207 Assume no impairment losses were recognized in prior periods. 5 b. What is amortization expense for 2020? $ Check Previous Save Answers Next MacBook Air BO