Through 50 years of high quality service, Domo Diagnostics Laboratory has created goodwill with its clients that management estimates is worth at least $20,000,000. Under IAS 38, how should this be recognized?

An intangible asset "Goodwill" should be debited for $20,000,000.

The $20,000,000 should be expensed over a period of 20 years.

The $20,000,000 should be expensed over a period of 50 years.

It should not be recognized in Domo's accounting records at all.