A company began a new software development project in $2023.$ The project reached technological feasibility on June $30,2024,$

and was available for release to customers at the beginning of $2025.$ Development costs incurred prior to June $30,2024,$ were

$$3,420,000$ and costs incurred from June $30,2024,$ to the product release date were $$1,620,000.$ The economic life of the

software is estimated at four years. For what amount will software be capitalized in $2024?$

Multiple Choice

$$6,480,000$

$$1,620,000$

$$3,420,000$