On January 1, 2018 Dalvin Cook Enterprises purchased a patent from the Colts Company for $6,000,000. The patent had a remaining legal life of 12 years, but Cook Enterprises determined that the remaining useful life of the patent to be 8 years. Cook Enterprises uses the straight-line method for amortizing intangible assets. On December 31, 2018 Dalvin Cook Enterprises would record amortization expense for the patent amounting to