Problem $8-16($Algorithmic$)$

Intangibles $($LO $8\mathrm{.}6)$

Derek purchases a small business from Art on August $30,2022.$ He paid the following amounts for the business:

a$.$ How much of the $$575,650$ purchase price is for Section $197$ intangible assets?

b$.$ What amount can Derek deduct on his $2022$ tax return as Section $197$ intangible amortization?

If required, round the final answer to the nearest dollar. Use months, not days, in your computations.