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Amortization of Intangible Assets. To illustrate the amortization of an intangible asset, imagine XYZ Biotech spends $30 million dollars on a patent with a useful life of 15 years. Theoretically, to account for the expense over a 15-year period, XYZ Biotech records $2 million each year as an amortization expense.
The useful life depends on the amount of time the asset can create value for you or your company. Let's say the software has a useful life of three years. Calculate the annual amortization costs associated with the software. The calculation is: software cost ($5,000) / useful life (three years) = $1,666.67.This means that each year the amortized cost of the software is $1,666.67. This is the amount that can be written off each year.alculate the annual amortization costs associated with the software. The calculation is: software cost ($5,000) / useful life (three years) = $1,666.67. This means that each year the amortized cost of the software is $1,666.67. This is the amount that can be written off each year.