Fair value for an acquired intangible asset can be estimated through consideration of a discounted cash flow analysis. The tax benefit from amortization of the intangible asset is included as a benefit in development of the future cash flow benefits. The mathematical link between the amortization inclusive intangible asset value and the amortization exclusive intangible asset value is derived and presented for valuation application.

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© 2006 American Society of Appraisers
2006
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