View Policies Current Attempt in Progress In 2020. Madden Inc. purchased a number of intangible assets from a competitor who was in bankruptcy Madden acquired the following assets . . Asset Trademark Customer st Patent . The following information is also available The trademark is renewable every 15 years in perpetuity, and Madden's management believe that the trademark will continue to have recognized value for marty decades The customer lists are expected to be useful for the next five years The patent has a remaining legal life of 15 years, but Madder's management expect that technological changes will renderit worthless after about six years G Asset Purchase Cost Trademarks $148.000 222.000 357,000 -15 E Calculate the annual amortization expense, if any, that should be recorded for each of these intangible assets, assuming the straight line method is appropriate. (Do not leave any answer field blank. Enter for amounts) Annual amortization expense S Question 7 of 9 omares Customer ist Patents 3 eTextbook and Media S Show how the intangible iets section these insets, aning that there amortization was taken in the year of acustic Patents Customer Listy Intangible assets, ac cont less accumulated amortization Trademarks Total intangible assets $ eTextbook and Media #1 atement of frucial poodion would be reunited four wars ar action of that their values have been inced Assume that a fullyrt
