XYZ Corporation incurred the following costs in 2018:

XYZ Corporation purchased a patent from ABC Company for $12,000,000 on March 1, 2018. The estimated remaining useful life of the patent is 8 years.

XYZ Corporation incurred the following research and development costs related to its trademark.

Personnel	$30,000
Materials	10,000
Supplies	5,000

XYZ Corporation purchased a franchise from DEF Company for $1,000,000 on August 1, 2018. The contract of the franchise is for 10 years.

Instructions:

Calculate the amortization for 2018.

Determine the total intangible assets of XYZ Corporation at December 31, 2018.