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Berry Co. purchases a patent on January 1, 2021, for $47,000 and the patent has an expected useful life of five years with no residual value. Assuming Berry Co. uses the straight-line method, what is the amortization expense for the year ended December 31, 2022?
-
$9,400.
-
$47,000.
-
$0.
-
$18,800.
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