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  3. 1) on 15 april 2019, taxpayer acquired the assets

1) On 15 April 2019, Taxpayer acquired the assets of its competitor for $75,000. Of...

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Accounting

1) On 15 April 2019, Taxpayer acquired the assets of its competitor for $75,000. Of that selling price, $39,000 was allocated to fixed assets and the remaining $36,000 was allocated to goodwill. Determine the amount of the amortization Taxpayer may deduct with respect to the acquired goodwill in 2019.

FOR THE TAX YEAR 2019

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