Impact Systems Inc. has recently designed and developed its own payroll system intended for internal use. If there is a market, the company may also decide to sel it to outside companies. Work on this project was completed over an 18-month period. The following costs were incurred in development of the software: $ 6,400 Conceptual design work Evaluation and decision on altemative options 8,200 19.000 Evaluation and consideration software requirements for options Final selection of option Software design work Software coding Testing of software Data conversion costs information from old system Staff training on new software Allocation of general and administrative costs Ongoing software maintenance 4,600 100,000 56,000 24,000 16,600 4,200 17,600 9,000 Required: 1. Indicate how much would be accounted for as an intangible asset for software. Decision to Software asset capitalize Cost $ 6,400 Conceptual design work 8.200 Evaluation and decision on altemative options Evaluation and consideration software 19,000 requirements for options Final selection of option 4,600 Software design work 100,000 Software coding 56,000 24,000 Testing of software Data conversion costs information from old 16,600 system Staff training on new software 4,200 Allocation of general and administrative costs 17,600 Ongoing software maintenance 9,000 S