At the beginning of the year, Big Time Tires acquired a patent for $$860,000,$

and a trademark for $$220,000.$ Big Time Tire's policy is to amortize intangible

assets with finite useful lives using the straight$-$line method, no residual value,

and a five$-$year service life.

What is the total amount of amortization expense that would be reported in

Big Time Tires' income statement for the first year related to these items?

Amortization expense