Axcel Software began a new development project in 2020. The project reached technological feasibility on June 30,2021 , and was available for release to customers at the beginning of 2022. Development costs incurred prior to June 30,2021 , were $3,200,000, and costs incurred from June 30 to the product release date were $1,400,000. The 2022 revenues from the sale of the new software were $4,000,000, and the company anticipates additional revenues of $6,000,000. The economic life of the software is estimated at four years. Amortization of the software development costs for the year 2022 would be: $560,000. $350,000. $1,840,000. $0