Question: Axcel Software started a new development project in 2020. The project reached technological feasibility on June 30, 2021 and was available for release to customers

Axcel Software started a new development project in 2020. The project reached technological feasibility on June 30, 2021 and was available for release to customers in early 2022. Development costs incurred before June 30, 2021 were of $3,220,000 and costs incurred from June 30 to the product launch date were $1,420,000. 2022 revenue from the sale of the new software was $4,518,000, and the company anticipates additional revenue of $5,522,000. The economic life of the software is estimated to be four years.

What would be the amortization of software development costs for the year 2022

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