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Question: can you please explain how you get these answers and...

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Exercise 12-7 In early January 2016, Novak Corporation applied for a trade name, incurring legal costs of $16,400. In January 2017,Novak incurred $8,200 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 LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the 2017 amortization and the 12/31/17 book value, assuming that at the beginning of 2017, Novak determines that the trade name will provide no future benefits beyond December 31, 2020 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, Novak determines that the fair value of the trade name is $15,200. Estimated total future cash flows from the trade name is $16,200 on January 3, 2018 2018 amortization 12/31/18 book value

can you please explain how you get these answers and then make them BOLD so I know what is what.

thank you.

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