Answer:
$48,000
Step-by-step explanation:
The computation of the amount that should be reported as the intangible asset franchise is shown below
= Purchase value of franchise - amortization per year
= $60,000 - ($60,000 รท 5 years)
= $60,000 - $12,000
= $48,000
hence, the amount that should be reported as the intangible asset franchise is $48,000