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Lopez Corp. incurred $840,000 of research and development costs to develop a product for which...

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Accounting

Lopez Corp. incurred $840,000 of research and development costs to develop a product for which a patent was granted on January 2,2018. Legal fees and other costs associated with registration of the patent totaled $160,000. On March 31,2021, Lopez paid $350,000 for legal fees in a successful defense of the patent. The total amount capitalized for the patent through March 31,2021 should beSelect one:a. $1,190,000.b. $1,000,000.c. $1,350,000.d. $510,000.

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