The Habson Company incurred $975,000 in research and development costs in its laboratory to develop a new product. It spent $48,000 in legal fees for a patent granted on January 2, 2022, which has an expected life of 6 years. On July 1st, 2022, Habson paid $1,250,000 for another patent, which has an estimated useful life of 10 years. How much will Habson record as amortization expense for the year ended December 31, 2022 if it records adjusting entries annually?