reach in the united states , adding a 1400-person direct sales force , over 300000 merchants and $ 130 billion in annual payments volume . goodwill of $ 3.2 billion arising from the merger , included in the north america segment , was attributable to expected growth opportunities , potential synergies from combining our existing businesses and an assembled workforce , and is not deductible for income tax purposes . due to the timing of our merger with heartland , we are still in the process of assigning goodwill to our reporting units . during the year ended may 31 , 2016 , we incurred transaction costs in connection with the merger of $ 24.4 million , which are recorded in selling , general and administrative expenses in the consolidated statements of income . the following reflects the preliminary estimated fair values of the identified intangible assets ( in thousands ) : .

Table: customer-related intangible assets $ 977400 acquired technology 457000 trademarks and trade names 176000 covenants-not-to-compete 28640 total estimated acquired intangible assets $ 1639040

the preliminary estimated fair value of customer-related intangible assets was determined using the income approach , which is based on projected cash flows discounted to their present value using discount rates that consider the timing and risk of the forecasted cash flows . the discount rate used is the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics . other significant assumptions include terminal value margin rates , future capital expenditures and future working capital requirements . acquired technology was valued using the replacement cost method , which required us to estimate the cost to construct an asset of equivalent utility at prices available at the time of the valuation analysis , with adjustments in value for physical deterioration and functional and economic obsolescence . trademarks and trade names were valued using the relief-from-royalty approach . this method assumes that trade marks and trade names have value to the extent that their owner is relieved of the obligation to pay royalties for the benefits received from them . this method required us to estimate the future revenue for the related brands , the appropriate royalty rate and the weighted-average cost of capital . the discount rate used is the average estimated value of a market participant 2019s cost of capital and debt , derived using customary market metrics . the weighted-average estimated amortization period for the total estimated acquired intangible assets is approximately 11 years . the customer-related intangible assets have an estimated amortization period range of 7-20 years . the acquired technology has an estimated amortization period of 5 years . the trademarks and trade names have an estimated amortization period of 7 years . covenants-not-to-compete have an estimated amortization period range of 1-4 years . heartland 2019s revenues and operating income represented approximately 4% ( 4 % ) and less than 0.5% ( 0.5 % ) of our total consolidated revenues and operating income , respectively , for the year ended may 31 , 2016 . the following unaudited pro forma information shows the results of our operations for the years ended may 31 , 2016 and may 31 , 2015 as if our merger with heartland had occurred on june 1 , 2014 . the unaudited pro forma information reflects the effects of applying our accounting policies and certain pro forma adjustments to the combined historical financial information of global payments and heartland . the pro forma adjustments include incremental amortization and depreciation expense , incremental interest expense associated with new long-term debt , a reduction of revenues and operating expenses associated with fair value adjustments made in applying the acquisition-method of accounting and the elimination of nonrecurring transaction costs directly related to the merger . global payments inc . | 2016 form 10-k annual report 2013 67 .

Question: what is the yearly amortization expense related to trademarks and trade names?
Answer: 25142.9
Calculation: divide(176000, const_7)