Pharoah Electric Inc. has the following amounts included in its general ledger at December 31,2020: $35,400 Organization costs Purchased trademarks 17,700 Development phase activities (meet all six development phase criteria) 29,800 Deposits with advertising agency for ads to promote goodwill of company 8,000 Excess of cost over fair value of identifiable net assets of acquired subsidiary 81,000 Cost of equipment acquired for research and development projects; the equipment has an alternative future use 126,000 74,000 Costs of researching a secret formula for a product that is expected to be marketed for at least 20 years Payment for a favourable lease; lease term of 10 years 14,500 (a) Based on the information provided, calculate the total amount for Pharoah to report as intangible assets on its statement of financial position at December 31, 2020. Assume Pharoah uses IFRS to prepare its financial statements. $ Total amount of intangible assets to be reported