Question: On August 1, Year 1, SuperCool Software (SCS) began developing a software program to allow individuals to customize their investment portfolios. Technological feasibility was established

On August 1, Year 1, SuperCool Software (SCS) began developing a software program to allow individuals to customize their investment portfolios. Technological feasibility was established on January 31 st of year 2, and the program was available for release on March 31, year 2. Development costs were incurred as follows: August 1 through December 31, Year 1: $4,000,000 January 1 through January 31, Year 2: 600,000 February 1 through March 21, Year 2: 900,000 SCS expects a useful life of five years for the software and total revenues of $10,000,000 total revenue estimate. Calculate the required amortization for Year 2 (Hint: calculate using both methods, choose the greater number)

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