On January 1, 2021, Summer 20 Corp purchased 25% of the voting common stock of Towel Corp by paying $2,300,000.

Summer 20 will use the equity method. Towel's stockholders' equity was $8,000,000 on investment date.

For all other assets and liabilities, book value and fair value were equal. Any excess of cost over fair value was attributed to goodwill, which has not been impaired.

Based on the following, what is the total amount of excess amortization for Summer's 25% investment.

Asset	Book Value	Fair Value
Buildings (10 year life)	$400,000	$440,000
Equipment (5 year life)	$1,100,000	$1,200,000
Franchise (8 year life)	$0	$210,000