Springer company had three intangible assets at the end of 2017 (end of the accounting year)
a. copyright purchased on january 1, 2017, for a cash cost of $15,900. the copyright is expected to have a 10-year useful life to springer.
b. goodwill of $79,000 from the purchase of the hartford company on july 1, 2016.
c. a patent purchased on january 1, 2016, for $60,000. the inventor had registered the patent with the u. s. patent office on january 1, 2012.

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan