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Question - West Coast Growers incurs the following costs during the year related to the creation of a new disease-resistant tomato plant.
Salaries for R&D
$510,000
Depreciation on R&D facilities and equipment
142,000
Utilities incurred for the R&D facilities
6,700
Patent filing and related legal costs
25,500
Payment to another company for part of the development work
12,400
Required - What amount should West Coast Growers report as research and development (R&D) expense in its income statement?
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