Problem 8-14 (Algorithmic) Intangibles (LO 8.6) Derek purchases a small business from Art on September 1, 2020. He paid the following amounts for the business: Fixed assets $359,200 Goodwill 71,840 Covenant not to compete 89,800 Total $520,840 a. How much of the $520,840 purchase price is for Section 197 intangible assets? $ b. What amount can Derek deduct on his 2020 tax return as Section 197 intangible amortization? If required, round the final answer to the nearest dollar. Use months, not days, in your computations. $