During the past two years,through extensive advertising and improved customer relations,Orange Corporation estimated that it had developed customer goodwill worth $500,000.For the current year,determine the amount of goodwill Orange Corporation may amortize.
A)$16,667
B)$26,667
C)$33,333
D)$100,000
E)None of these

Question

Quizplus · Accepted Answer

Self­created goodwill is not a § 197 intangible and thus cannot be amortized.

During the Past Two Years,through Extensive Advertising and Improved Customer