Question: An intangible asset with an estimated useful life of 30 years was acquired on January 1, 1996, for OMR 450,000. On January 1, 2006, a

An intangible asset with an estimated useful life of 30 years was acquired on January 1, 1996, for OMR 450,000. On January 1, 2006, a review as made of intangible assets and their expected service lives, and it was determined that this asset had an estimated useful life of 30 more years from the date of the review. What is the amount of amortization for this intangible in 2006. 22

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The feeling of boredom.

2. In this chapter, the reader should reflect on the following concepts: