Question: can you answer this question? You said: Devon purchased a small business from Art on March 3 0 , 2 0 2 3 , and

can you answer this question? You said:
Devon purchased a small business from Art on March 30,2023, and paid the following amounts for the business:
Line Item Description Amount
Fixed assets $409,600
Goodwill 81,920
Covenant not to compete 102,400
Total $593,920
Question Content Area
a. How much of the $593,920 purchase price is for Section 197 intangible assets?
fill in the blank 1 of 1$
184,320
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b. What amount can Devon deduct on his 2023 tax return as Section 197 intangible amortization?
If required, round the final answer to the nearest dollar. Use months, not days, in your computations.
fill in the blank 1 of 1$
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