Yankee Candle Company bought a trademark from Tuckers Corporation on January 1 for $112,000. An independent consultant retained by Yankee Candle estimated that the remaining useful life is 50 years. Its unamortized cost on Tuckers accounting records was $56,000. Yankee Candle decided to write off the trademark over the maximum period allowed. however, the pattern of consumption of the economic benefits is not reliably determinable. 

How much should be amortized for the year ended December 31?

Answer rating: 100% (QA)

Since the pattern of consumption of the economic benefits is not reliably determina... View the full answer