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Determining Carrying Value and Amortization of Intangible Assets Review the following information pertaining to Denzel...

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Accounting

Determining Carrying Value and Amortization of Intangible Assets
Review the following information pertaining to Denzel Company.
On January 1 of Year 3, Denzel Company purchased a second patent for $128,000 cash. At January 1 of Year 3, a total of 6 years of the patent's legal life of 20 years had expired.
On June 30 of Year 3, Denzel Company paid a firm $12,800 for a new trademark. Denzel considers the life of the trademark to be indefinite.
Required
a. What is the carrying value of each intangible asset on December 31 of Year 3? Assume no impairment losses were recognized in prior periods.
b. What is amortization expense for Year 3?
Note: When answering the following questions, do not round until your final answer. Round your final answer to the nearest whole number.
a.
b. Amortization expense, Year 3$
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