Assume that Yuri acquires a competitor's assets on May 1^st. The purchase price was $500,000. Of the amount, $325,000 is allocated to tangible assets and $175,000 is allocated to goodwill (a §197 intangible asset). What is Yuri's amortization expense for the current year, rounded to the nearest whole number?

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The Answer of Assume that Yuri acquires a competitor's assets on May 1^st. The purchase price was $500,000. Of the amount, $325,000 is allocated to tangible assets and $175,000 is allocated to goodwill (a §197 intangible asset). What is Yuri's amortization expense for the current year, rounded to the nearest whole number?

Assume That Yuri Acquires a Competitor's Assets on May 1st

Assume That Yuri Acquires a Competitor's Assets on May 1^st