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In early January 2024, Outkast Corporation applied for a trade name, incurring legal costs of $16,000. In January 2025, Outkast
incurred $7,800 of legal fees in a successful defense of its trade name.
(a)
Your answer is incorrect.
Compute 2024 amortization, 12/31/24 book value, 2025 amortization, and 12/31/25 book value if the company amortizes the
trade name over 10 years. (Round answers to 0 decimal places, e.g. 5,125.)
2024 amortization
$
12/31/24 book value
$
2025 amortization
$
12/31/25 book value
$
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