A company acquires a patent for a drug with a remaining legal and useful life of six years on January 1, 20X1 for $2,400,000. The company uses straight-line amortization for patents. On January 2, 20X3, a new patent is received for a timed-release version of the same drug. The new patent has a legal and useful life of twenty years. The least amount of amortization that could be recorded in 20X3 is