Harvest Coffee developed a new product during 2022, incurring $168,000 in research and development costs, $12,000 in legal fees, and $12,000 in application fees with the U.S. Patent Office. A patent for this product was granted on July 1, 2022 and is expected to have a useful life of 5 years and a legal life of 20 years. How much amortization expense will be reported on the statement for the year-ending December 31, 2022?