Business, 05.05.2020 05:59 yasminothman02

Maxtor Technology incurred the following costs during the year related to the creation of a new type of personal computer monitor: Salaries $ 280,000 Depreciation on R&D facilities and equipment 155,000 Utilities and other direct costs incurred for the R&D facilities 72,000 Patent filing and related legal costs 28,000 Payment to another company for performing a portion of the development work 150,000 Costs of adapting the new monitor for the specific needs of a customer 86,000 What amount should Maxtor report as research and development expense in its income statement?

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