Question 19 (Mandatory) (2.5 points) Rich Corporation purchased an indefinite-life intangible asset for $450,000 on January 1, 2019. The asset was used for the entire year, and the company plans to use the asset for at least another 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31,2019 ? $0$37,500$40,910$45,000.

1. Question 19 (Mandatory) (2.5 points) Rich Corporation purchased an indefinite-life intangible
asset for $450,000 on January 1, 2019. The asset was used for the entire year, and the company
plans to use the asset for at least another 10 years. What total amount of amortization expense
should have been recorded on the intangible asset by December 31,2019 ?
$0$37,500$40,910$45,000