Assume That Brittany Acquires a Competitor's Assets on September 30

Multiple Choice

Assume that Brittany acquires a competitor's assets on September 30 ^th of Year 1 for $350,000. Of that amount, $300,000 is allocated to tangible assets and $50,000 is allocated equally to two §197 intangible assets (goodwill and a one-year noncompete agreement) . Given that the noncompete agreement expires on September 30 ^th of Year 2, what is Brittany's amortization deduction for the second year? (Round final answer to the nearest whole number.)

A) $0
B) $1,667
C) $2,917
D) $3,333
E) None of the choices are correct.