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Business, 03.12.2019 02:31 slavenkaitlynn

Delaware company incurred the following research and development costs during 2021: salaries and wages for lab research $ 490,000 materials used in r& d projects 290,000 purchase of equipment 990,000 fees paid to third parties for r& d projects 410,000 patent filing and legal costs for a developed product 74,000 salaries, wages, and supplies for r& d work performed for another company under a contract 440,000 total $ 2,694,000 the equipment has a six-year life and will be used for a number of research projects. depreciation for 2021 is $210,000. calculate the amount of research and development expense that delaware should report in its 2021 income statement.

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