On January 2, 2019, Fran Acquires a Business from Chuck

Multiple Choice

On January 2, 2019, Fran acquires a business from Chuck.Among the assets purchased are the following intangibles: patent with a 7-year remaining life, a covenant not to compete for 10 years, and goodwill. Of the purchase price, $140,000 was paid for the patent and $60,000 for the covenant.The amount of the excess of the purchase price over the identifiable assets was $100,000.What is the amount of the amortization deduction for
2019?

A) $10,667.
B) $16,000.
C) $20,000.
D) $32,667.
E) None of these.