) On January 1, 20X3, Stacy Company purchased the College Book Store for $350,000. At...
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) On January 1, 20X3, Stacy Company purchased the College Book Store for $350,000. At the date of purchase, it was determined the recorded assets had a total market value of $325,000, comprised of inventory (books), $275,000; fixtures, $30,000; and other assets $20,000. It is estimated that the goodwill (if any) has an economic useful life of 20 years. What is the amount of amortization expense for goodwill for 20X3? yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy. A) $1,250 B) $16,250 C) $0 D) $17,50
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