QUESTION 13 The general ledger of Black Corporation includes the following accounts as of December 31, 2020: Copyrights $ 30,000 Trademarks 90,000 Deposits with advertising agency (will be used to promote goodwill) 27,000 Discount on bonds payable 67,500 Excess of purchase cost over fair value of identifiable net assets of acquired subsidiary 490,000 What should be reported as total intangible assets (inclusive of any goodwill) in Black's balance sheet as of December 31, 2020?

$637,000.

$610,000.

$120,000.

$704,500.

$580,000.