notes to consolidated financial statements 2014 ( continued ) owns the remaining 44% ( 44 % ) . we purchased our share of gpap philippines for $ 10.9 million . the purpose of this acquisition was to expand our presence in the asia-pacific market . this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition . the following table summarizes the preliminary purchase price allocation ( in thousands ) : .

Table:
goodwill | $ 6286
customer-related intangible assets | 3248
contract-based intangible assets | 952
trademark | 224
property and equipment | 300
total assets acquired | 11010
minority interest in equity of subsidiary ( at historical cost ) | -132 ( 132 )
net assets acquired | $ 10878
all of the goodwill associated with the acquisition is non-deductible for tax purposes .
the customer-related intangible assets have amortization periods of 11 years .
the contract-based intangible assets have amortization periods of 7 years .
the trademark has an amortization period of 5 years .
money transfer branch locations during 2009 , we completed the second and final series of money transfer branch location acquisitions in the united states as part of an assignment and asset purchase agreement with a privately held company .
the purpose of this acquisition was to increase the market presence of our dolex-branded money transfer offering .
the purchase price of these acquisitions was $ 787 thousand with $ 739 thousand allocated to goodwill and $ 48 thousand allocated to intangibles .
pursuant to our annual impairment test in fiscal 2009 , goodwill and other intangibles related to our money transfer business were deemed impaired .
please see note 3 2014impairment charges for further information .
this business acquisition was not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to this acquisition .
fiscal 2008 discover during the year ended may 31 , 2008 , we acquired a portfolio of merchants that process discover transactions and the rights to process discover transactions for our existing and new merchants for $ 6.0 million .
the purchase of the portfolio was structured to occur in tranches .
during fiscal 2009 , additional tranches were purchased for $ 1.4 million .
as a result of this acquisition , we now process discover transactions similarly to how we currently process visa and mastercard transactions .
the purpose of this acquisition was to offer merchants a single point of contact for discover , visa and mastercard card processing .
the operating results of the acquired portfolio have been included in our consolidated financial statements from the dates of acquisition .
the customer-related intangible assets have amortization periods of 10 years .
these business acquisitions were not significant to our consolidated financial statements and accordingly , we have not provided pro forma information relating to these acquisitions. .

Question: what is the yearly amortization expense related to customer-related intangible assets , ( in thousands ) ?
Answer: 295.3
Calculation: divide(3248, 11)