Mango Limited purchased a leading chutney brand from a competitor on 1 October 20X8 for N$450 000. The brand has an estimated useful life of 25 years and zero residual value. In order to maintain the brand’s premium market position, Mango Limited have incurred marketing costs of N$50 000 from 1 October 20X8 to 28 February 20X9, the end of the financial year.

What amount is recognised as an intangible asset on the statement of financial position of Mango Limited at 28 February 20X9?

(Choose one correct option only)