Royal Com nany purchased a new trademark and incurred the following costs: Purchase price Nonrefundable value added tax Training of personnel on the use of new trademark Research expenditures associated with the purchase of the new trademark Legal cost incurred to register the new trademark Administrative salaries 1,000,000 50,000 70,000 240,000 105,000 120,000 What amouont should be reported as initial cost of the trademark?

Royal Com nany purchased a new trademark and incurred the following costs: Purchase price Nonrefundable value added tax Training of personnel on the use of new trademark Research expenditures associated with the purchase of the new trademark Legal cost incurred to register the new trademark Administrative salaries 1,000,000 50,000 70,000 240,000 105,000 120,000 What amouont should be reported as initial cost of the trademark?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter5: Business Deductions

Section: Chapter Questions

Problem 29P

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