Problem 8-14 (Algorithmic) Intangibles (LO 8.6) Derek purchases a small business from Art on September 1, 2019. He paid the following amounts for the business: Finced assets 290,800 Goodwill 58,160 Covenant not to compete 72,700 Total $421,660 a. How much of the $421,660 purchase price is for Section 197 intangible assets? b. What amount can Derek deduct on his 2019 tax return as Section 197 intangible amortization? If required, round the final answer to the nearest dollar. Use months, not days, in your computations