Please Show Work In early January 2016, Culver Corporation applied for a trade...
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In early January 2016, Culver Corporation applied for a trade name, incurring legal costs of $ 8,500. In January 2017, Culver incurred $3,591 of legal fees in a successful defense of its trade name. Compute 2016 amortization, 12/31/16 book value, 2017 amortization, and 12/31/17 book value if the company amortizes the trade name over 10 years. (Round all answers to O decimal places, e.g. 8,564) 2016 amortization$ 12/31/16 book value $ 2017 amortization$ 12/31/17 book value $ Compute the 2017 amortization and the 12/31/17 book value, assuming that at the beginning of 2017, Culver determines that the trade name will provide no future benefits beyond December 31,2020. (Round all answers to O decimal places, e.g. 8,564) 2017 amortization$ 12/31/17 book value $ Ignoring the response for part (b), compute the 2018 amortization and the 12/31/18 book value, assuming that at the beginning of 2018, based on new market research, Culver determines that the fair value of the trade name is $6,240. Estimated total future cash flows from the trade name is $ 8,600 on January 3, 2018. (Round all answers to O decimal places, e.g. 8,564) 2018 amortization 12/31/18 book value $
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