Cue All Ltd under takes a lot of research and testing for drugs to treat many different health issues. Strict testing is required and if results are positive then government approval is sought for approval to then mass produce successful drugs.

As at 1 July 2020, the balance of the intangible asset Research and Development is $2,300,000 and for 200 different medications that have an expected remaining selling life of 5 years. What is the amortisation amount for this asset for the year ended 30 June 2021? (2 marks)

a.$0

b.$2,300

c.$11,500

d.$460,000