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On May 10, 2015, Substantial Corporation spent $210,000 on a limited-life intangible asset. Its useful...

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Accounting

On May 10, 2015, Substantial Corporation spent $210,000 on a limited-life intangible asset. Its useful lifetime is 10 years. How much in total amortization expense should be recorded on the intangible asset by December 31, 2017?

$ -0-
$42,000
$56,000
$63,000

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