On January 1, 2020, NEIU Corporation acquires all of the net assets of New Corporation for $2,500,000. The following intangible assets are included in the purchase agreement: Assets Acquisition Cost Goodwill and going concern value $125,000 Licenses $ 50,000 Patents $ 75,000 Covenant not to compete for five years $110,000 What is the total amount of amortization allowed in 2020?

A) $15,000 B) $22,000 C) $24,000 D) $36,000