Derek purchases a small business from Art on September 1, 2020. He paid the following amounts for the business:

Fixed assets	$254,800
Goodwill	50,960
Covenant not to compete	63,700
Total	$369,460

a. How much of the $369,460 purchase price is for Section 197 intangible assets? $fill in the blank c25215f2f058f99_1

b. What amount can Derek deduct on his 2020 tax return as Section 197 intangible amortization?

If required, round the final answer to the nearest dollar. Use months, not days, in your computations.

$fill in the blank 574fdb028ffc049_1