Teal MountainGolf Inc. was formed on July 1, 2019, when Matt Magilke purchased the Old Master Golf Company. Old Master provides video golf instruction at kiosks in shopping malls. Magilke plans to integrate the instructional business into his golf equipment and accessory stores. Magilke paid $850,000cash for Old Master. At the time, Old Master's balance sheet reported assets of $630,000and liabilities of $190,000(thus owners' equity was $440,000). The fair value of Old Master's assets is estimated to be $830,000. Included in the assets is the Old Master trade name with a fair value of $7,000and a copyright on some instructional books with a fair value of $33,600. The trade name has a remaining life of5years and can be renewed at nominal cost indefinitely. The copyright has a remaining life of40years.

Prepare the intangible assets section ofTeal MountainGolf Inc. at December 31, 2019.

How much amortization expense is included inTeal Mountainincome for the year ended December 31, 2019?