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Question
Xtra Company purchased a business from Argus for $96,000 above the fair value of its net assets. Argus had developed the goodwill over 12 years. How much would Xtra amortize the goodwill for its first year?
a. $7,000
b. $8,000
c. $0 (goodwill is not amortized)
d. cannot be determined with information given
Answer
This answer is hidden. It contains 1 characters.
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