a.Titan Ltd has spent 18 mln in developing a new software for its payment system for the period of 1 Jan 2017 - 31 Dec 2018(it is spread equally across 24 months). The company is able to demonstrate that from 1 Oct 2018 the production process met the criteria for recognition as an intangible asset. The financial year-end is 31 Dec. Calculate the amount to be recognized in SFP and I/S for the year ended 31 Dec 2017 and 2018. Clearly show your workings.