During 2020, PC Software Inc. developed a new personal computer database management software package. Total expenditures on the project were $1,200,000, of which 40% occurred after the technological feasibility of the product had been established. The product was completed and offered for sale on January 1, 2021. During 2021, revenues from sales of the product totaled $1,920,000. The package is expected to be successfully marketable for five years, and the total revenues over the life of the product are estimated to be $8,000,000. At December 31, 2020, the carrying value of the software intangible asset is O $480,000. $604,800. O $720,000. O $364,800.